On May 29, Upbit introduced a new trading pair with Bounce Token (AUCTION) which is supposed to attract new investors. Trading with the particular pair will begin at 18:50 local time in South Korea and spiked the AUCTION price to 43.92% in a day.
Korean Trading Pair Bounce (AUCTION) Launched
Upbit is one of the most relied cryptocurrency exchanges in South Korea, holding a trust score of 9/10, as per Coingecko data. The exchange added a new trading pair with AUCTION against KRW.
Wu Blockchain shared the new trading pair launch news over X, along with sharing AUCTION price details.
Upbit, South Korea's largest cryptocurrency exchange, will launch the Korean trading pair of Bounce (AUCTION), which will start trading at 18:50 local time. After Upbit released the announcement, its price rose from US$18 to US$28 in a short period of time, an increase of more…
— Wu Blockchain (@WuBlockchain) May 29, 2024
The trading pair will be available over the Ethereum (ETH) network and deposits and withdrawals will be supported on the respected network. Moreover, individuals can make deposits and withdrawals through a personal wallet address which requires an ownership verification.
Action’s React on AUCTION Price
The announcement of the listing of the new trading pair Bounce Token generated waves in the AUCTION price.
At the time of writing, AUCTION was trading at $24.95, after a spike of 43.92% intraday with a market cap of $162,317,892 and $222,740,668 in 24-hour volume. After the announcement, the token’s price suddenly jumped from $18.04 to $30.22 within half an hour.
AUCTION Price I Source: CoinMarketCap
Uncovering the past month’s performance, the token was hovering in a consolidation state and began making waves somewhere in May. AUCTION token surged from $16.11 on April 30 to $24.95 on May 29, indicating a 52.50 spike in a month.
Other Coins Listing on Upbit & Trading Volume Crash
Just like AUCTION, other tokens also recorded a sudden surge in price when listed on the Upbit exchange. Oasys (OAS) token was listed on the respective exchange on May 23 and showcased an outstanding performance.
The token jumped from $0.06205 to $0.0981 in a single day and underwent a drop afterward. At the press time, OAS was trading at $0.06203, after a drop of 0.14% in a day. Moreover, in April beginning, Upbit’s trading volume crashed by 75% from the year’s high amid a fizzle in altcoin trading.
At the time of writing, Upbit’s 24-hour trading volume was recorded at $1,565,460,280, after an intra-day drop of 1.0%, according to CoinGecko. The exchange currently supports 198 coins and 322 trading pairs.
