Upbit Lists Nine Altcoins, Traders Anticipate Market Reactions
- Upbit will list PEAQ, LIT, KMNO, MORPHO, GRAM, LDO, PAXG, OSMO, and AMP on June 19 across its Bitcoin (BTC) and Tether (USDT) markets.
- Trading will start in phases from 3 PM to 7 PM KST with PEAQ and LIT at the forefront.
- PEAQ surged nearly 22% post-announcement with a trading volume increase of about 300% within a day.
- Temporary trading restrictions include no buy orders for the first five minutes and limits on sell orders below the previous day’s closing price.
- Deposits for new tokens will open within three hours of the announcement, emphasizing secure transfers amid ongoing security concerns in the crypto space.
The Upbit listing is closely monitored as traders speculate whether it can replicate the “Upbit Effect,” known for driving significant price rallies in newly listed tokens. This comes at a critical time as market volatility increases ahead of major options expiries for Bitcoin, ETH, XRP, and SOL.
With PEAQ’s notable gains of nearly 22%, traders are keenly observing if this listing will lead to sustained momentum across other altcoins as well. (Source)
