Upbit Will Be Listing a New Altcoin Today

Uncover key highlights within the Bitcoin house. This article dives into: “Upbit Will Be Listing a New Altcoin Today”.

Upbit, South Korea’s largest cryptocurrency trade, has introduced in the present day the itemizing of Story (IP), the native token of the Story Protocol.

The announcement has sparked a big double-digit surge within the token’s worth. It additionally made IP the highest trending coin on CoinGecko.

Story (IP) Secures Upbit Listing

For context, Story Protocol is a layer 1 blockchain that simplifies mental property administration by enabling on-chain registration and enforcement of utilization phrases. It creates a clear, decentralized IP repository the place customers can simply transact and monetize IP.

According to Upbit’s official discover, IP shall be out there for buying and selling towards three belongings: Korean Won (KRW), Bitcoin (BTC), and Tether (USDT). The asset will go dwell to commerce at 13:00 Korean Standard Time (KST). 

The trade notified customers that deposits and withdrawals, facilitated completely via the IP-Story community, will open inside 90 minutes of the announcement. Upbit emphasised the significance of verifying the community earlier than depositing, as transactions by way of unsupported networks is not going to be processed.

Furthermore, to keep up market stability, Upbit has launched non permanent buying and selling restrictions. It will cap purchase orders for the primary 5 minutes and block promote orders beneath 10% of the day gone by’s closing worth throughout the identical interval. Lastly, the trade will solely permit restrict orders for the primary two hours of buying and selling.

“To comply with the Travel Rule, if assets are deposited into Upbit from an exchange not included in the list of virtual asset business operators for deposit/withdrawal, they cannot be processed, and returns may take a long time,” the discover learn.

The itemizing has pushed exceptional market exercise. IP skilled a 16.13% rise. The token’s worth elevated from round $6.2 to $7.2.

The altcoin shed a few of its good points to commerce at a press time worth of $6.8, up 10.58% for the reason that announcement. In the previous 24 hours, IP’s worth has grown by 15.9%, making it the second-highest high gainer on CoinGecko.

Story (IP) Price Rise After Upbit Listing. Source: TradingView

Moreover, buying and selling exercise additionally surged. IP’s buying and selling quantity pumped 346.7%, reaching $169 million. This indicated heightened investor curiosity.

The newest rise is a part of a broader uptrend. IP has been present process a bullish rally. Over the previous month, the token’s worth has soared by 127.9%, outperforming the broader crypto market, which has seen a 15.9% rise.

The token has additionally gained substantial institutional curiosity. On July 31, asset supervisor Grayscale launched a Story Trust. The Grayscale Story Trust provides traders regulated publicity to IP.

“By transforming intellectual property and real-world data into fully programmable on-chain assets, Story is laying the foundational infrastructure for the global intellectual property economy, which has been reported to be worth as much as $80 trillion,” Grayscale famous.

Thus, all of the components are fairly constructive for the IP token. As the broader bull run continues, its efficiency within the crypto market shall be price watching.

The submit Upbit Will Be Listing a New Altcoin Today appeared first on BeInCrypto.

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