Upbit Exchange Announces Listing of Highly Anticipated Altcoin, Price Surge Follows!
Upbit, the largest cryptocurrency exchange in South Korea, has recently unveiled the listing of a long-awaited altcoin, and the price of its token has experienced a significant surge!
In a recent announcement, Upbit revealed that it would be listing Injective (INJ) on its platform, with trading pairs available in KRW (Korean Won) and USDT (Tether). This news has excited the community, as Injective is one of the most anticipated tokens in the crypto space.
Just moments ago, the Injective platform took to X (formerly Twitter) to share the exciting news of its listing, expressing anticipation for millions of users in South Korea to access their native token.
Upbit Announces Injective (INJ) Listing
Upbit has issued a cautionary notice to users about some temporary restrictions and precautionary measures for trading. These include:
- Buy Order Limitations: Trading will be disabled for five minutes after a buy order is placed.
- Minimum Sell Price: Sell orders placed within the first five minutes, priced below 10% of the previous day’s closing price, will not be accepted.
- Order Type Limitations: Only limit orders will be allowed in the first hour of trading, with other order types temporarily restricted.
Additionally, Upbit advised users to double-check their deposit details to avoid longer processing times.
What is Injective (INJ)?
Injective is a decentralized finance (DeFi) platform that facilitates the trading of digital assets. The INJ token is the native cryptocurrency used within the Injective ecosystem. The total supply of INJ is capped, and the token plays a key role in governance, liquidity mining, and staking to enhance the security of the blockchain.
Since the announcement of its listing on Upbit, the price of INJ skyrocketed by nearly 16% almost immediately. As of the time of writing, the token continues to show strength, trading at $23.01 USD, marking an increase of 10.3% in the past 24 hours.
This surge in INJ’s price highlights the excitement surrounding the listing and the growing interest in Injective’s potential in the DeFi space.
Sandali Handagama is CoinDesk’s deputy managing editor for policy and regulations, EMEA. She is an alumna of Columbia University’s graduate school of journalism and has contributed to a variety of publications including The Guardian, Bloomberg, The Nation and Popular Science.