Analysis: MOVE on the chain/South Korean exchanges/other leading exchanges all have large price differences, and institutions and smart money may engage in arbitrage

On-chain analyst @ai_9684xtpa analyzed that Upbit and Bithumb were originally scheduled to launch MOVE at the same time, which was 8 o'clock last night. However, a small Korean exchange, Coinone, unexpectedly launched MOVE at 7:30 last night, and the opening price was as high as 998,500 won (about 700 US dollars). This accident forced the two major Korean exchanges to postpone the launch time of MOVE. Upbit was launched at 09:35 in the morning, with an opening price of 2263 won (about 1.59 US dollars), and the current price is 3060 won (about 2.2 US dollars). Now there is a large price difference between MOVE on the chain/Korean exchanges/other leading exchanges. There may be many institutions and smart money that are frantically arbitrage (but it should be noted that the depth of the chain is poor).