CoinUp’s CPX token began spot trading at 20:00 Beijing time on June 9 at 0.12 USDT and rose to 0.58 USDT within an hour after a heavily oversubscribed sale.
CoinUp's genesis IEO for its ecosystem token CPX closed at 14:00 Beijing time on June 9 after attracting 90,764,572.83 USDT in subscriptions from 3,656 participants, according to CoinUp Launchpad data. The offering was priced at 0.12 USDT per token with 3 million CPX allocated, implying about 360,000 USDT raised and an oversubscription of roughly 252 times. CPX spot trading opened at 20:00 Beijing time on June 9 at 0.12 USDT, and CoinUp data showed the token reached 0.58 USDT one hour later, up 350%. CoinUp describes CPX as its ecosystem token focused on trading rights, ecosystem incentives, user benefits, and platform use cases.