Internet Computer (ICP) Price Soars 16% on Upbit Listing: Details
Internet Computer (ICP) noticed its value explode by roughly 16% following its itemizing on South Korea’s largest cryptocurrency alternate, Upbit.
The altcoin’s worth rose from round $2.35 to a high of $2.73 inside minutes of the announcement. Trading pairs embody ICP/KRW, ICP/BTC, and ICP/USDT.
In case you’re questioning, alternate listings on main centralized venues have traditionally led to appreciable value will increase for newly listed cryptocurrencies. This is very true for altcoins with thinner market depth, the place it’s simpler to maneuver the worth with smaller quantities.
Upbit is at present the third-largest centralized spot alternate on the earth, with a 24-hour buying and selling quantity of round $1.16 billion, in response to CoinMarketCap, trailing solely Binance and Coinbase.
ICP is the forty seventh largest cryptocurrency by way of complete market capitalization ($550M) and round $147 million in 24-hour buying and selling quantity – a metric that’s a whopping 170% up prior to now day, showcasing the affect of the itemizing.
Usually, although, these strikes usually are not as sustainable and end in reversals, but it surely’s fascinating to see if ICP will comply with an analogous path.
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