SOON is up 116% in a week, and three quarters of its trading is on two Korean exchanges

SOON, the token of an infrastructure project that builds Solana-style rollups on other blockchains, is up 115.9% over the past seven days and 31.8% in the past 24 hours, according to CoinGecko data pulled at about 7:40 a.m. New York time on Wednesday. It traded near $0.438, for a market value of about $149 million.

The most useful number is not the price. In the past 24 hours about $171 million of SOON changed hands, more than the entire token is worth. That is a churn ratio of about 1.15. When a day's volume exceeds the market value, the price is being set by traders passing the same coins back and forth quickly, and a price set that way can reverse as fast as it rose.

The numbers, all of them

Period	Change
24 hours	+31.8%
7 days	+115.9%
14 days	+149.7%
30 days	+120.7%
1 year	+25.6%
From its high of $4.30 (Nov. 14, 2025)	−89.8%

Both ends of that table apply. The token has more than doubled in a week and is up on the year, but it is still roughly a tenth of what it traded for ten and a half months ago. Its low of about $0.101 came on April 10 this year.

Where the trading is happening

CoinGecko's venue breakdown shows how concentrated the move is. Of about $172 million in tracked 24-hour volume, Upbit accounted for 55% and Bithumb for 22%, so the two big South Korean won exchanges carried about 78% of all SOON trading. The largest on-chain venue, PancakeSwap on BNB Chain, was 8%.

Upbit's own daily data shows when that started. SOON traded between roughly 0.2 billion and 0.7 billion won a day on Upbit through most of September. On Sept. 26 (Korea time) turnover rose to 2.9 billion won. On Sept. 27 it was 111 billion won, and the price went from 312 won to 445 won, up about 43% in one session. Turnover has stayed between 67 billion and 100 billion won a day since. We checked Upbit's trading notices for the period and found no new SOON listing or market addition that would explain the jump.

In dollar terms, CoinGecko's daily series shows the same break: volume of about $4 million to $6 million a day from Sept. 17 through Sept. 26, then about $175 million for Sept. 27.

What is being cited as the cause, and the timing problem

Two things are being credited for the move.

• A trading platform for AI agents. The project has launched a venue called 100xSOON on BNB Chain, The Cryptonomist reported on Wednesday. According to that report, it lets software agents and people trade crypto, a handful of U.S. stocks and gold and silver, with all positions posted in SOON, leverage of up to 10,000 times and 80% of platform revenue going to buy back and burn the token. A CoinMarketCal event listing on TradingView, dated Sept. 29, gave Sept. 30 as the launch date. We could not retrieve the project's own announcement, and we have not seen any figures on how much the platform is actually used.
• A post from Changpeng Zhao. AMBCrypto reported that the Binance founder posted the single word "Soon" on Sept. 29, and that traders read it as a nod to the token. As described, the post names no project. Treating a common English word as a signal about a token is exactly the kind of reading that is impossible to confirm.

The timing matters. Both of those items date from Sept. 29 and 30. The volume break on Upbit, and the biggest single-day price gain, came on Sept. 27. We looked for a dated announcement, listing or funding news from Sept. 26 or 27 and could not find one. The platform news may explain part of this week's second leg higher; we could not verify what started the first one.

Derivatives are part of the picture too. AMBCrypto, citing market data, put open interest in SOON futures at about $92 million, which is a large figure against a $149 million token.

Elsewhere on the list

Quant (QNT) again tops this morning's movers board at 294% on the week, but we have covered its run three times since Sept. 25 and there is no new development. Moonriver (MOVR) shows the most extreme churn on the list, with a day's volume about five times its $22 million market value, up 76% in 24 hours and still down 99.6% from its 2021 high.

Live prices for the largest coins are on our crypto prices page, and smaller speculative tokens are tracked on the meme coins board.

Sources: CoinGecko market data and exchange volume breakdown; Upbit daily market data and trading notices; The Cryptonomist; CoinMarketCal via TradingView; AMBCrypto. Figures as of about 7:40 a.m. ET, Sept. 30, 2026. This describes a move that has already happened. It is market information, not investment advice.