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Upbit has listed various altcoins this year, attempting to boost the trading volume on its exchange platform.
Key Notes
Nervos Network (CKB) surged a whopping 18% in the past 24 hours.Upbit confirmed that it would the CKB token on Friday at 10:00 UTC.Buy and sell orders will be restricted for five minutes following listing.One of the leading four digital asset trading platforms in South Korea, Upbit, announced that it would be listing CKB, the native token of the Nervos Network, which resulted in the altcoin rallying a massive 18% in the past 24 hours coupled with a significant boost in the cryptocurrency’s market capitalization and trading volume.
According to an announcement from Upbit on Friday, CKB will be listed on the crypto exchange on September 13th at 10:00 UST, and the firm also confirmed that “deposits and withdrawals can only be made to a personal wallet address for which ‘ownership verification’ has been completed”, adding:
“Even if the deposit is made through a linked personal wallet, the deposit may need to be returned depending on the network of the asset in question.”
It is important to note that, as per CoinMarketCap data, Upbit is currently the fifth largest cryptocurrency exchange by spot trading volume, which amounts to $1.4 billion. The firm only supports the Korean won and has a total of 213 coins available to its customers. It is preceded by Bybit and succeeded by Kraken.
Once Nervos Network (CKB) is listed on Upbit, the buy orders will be restricted for a total of five minutes to prevent extreme volatility in the market. Also , sell orders will be restricted at a price of 10% or less compared to the previous day’s closing price for 5 minutes after listing. Finally, market price and pre-order transactions will be restricted for approximately 1 hour following the listing.
Notably, Upbit has listed various altcoins this year, attempting to boost the trading volume on its exchange platform. In May, the South Korean exchange listed Beam (BEAM) on its trading platform and also added support for Ethereum Name Service (ENS) in July. The exchange also added trading of BIGTIME, UXLINK, and Aether’s ATH tokens.
Nervos Network (CKB) Price Analysis
Nervos Network (CKB) is up 18.8% and is trading at $0.0106 with a massive 589.60% jump in its trading volume, which amounts to $119 million. On the other hand, altcoin’s market valuation is $475 million, making it the 115th-largest cryptocurrency on CoinMarketCap.
In the past week, CKB rose 38.45%, while in the last 30 days, altcoin surged 23.12%. Nervos Network is up an astounding 301.90% since September last year and has outperformed the majority of cryptocurrencies in the digital asset space.
Nervos (CKB) price analysis. Photo: TradingView
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With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.
