The ICP token surged by more than 12% following Upbit’s announcement of new trading pairs against KRW, BTC, and USDT. The listing sparked strong trading activity, with the token climbing to around $2.70 in early trading. Market data showed an immediate lift in ICP’s valuation, as its market capitalization rose by roughly $110 million to about $1.48 billion within an hour. Daily transaction volume jumped above $140 million, signaling new liquidity from South Korean traders entering the market.
Upbit activated ICP trading at 08:00 UTC on March 11, opening markets ICP/KRW, ICP/BTC, and ICP/USDT. Deposits and withdrawals for ICP became available shortly after the listing, with deposits processed roughly 90 minutes after the notice and transfers required to run via the Internet Computer Protocol network. The listing opens access for millions of South Korean crypto users to trade ICP in their local currency. To curb volatility, Upbit imposed temporary safeguards—buy orders were restricted for the first five minutes, sells below 10% of the prior close were blocked, and only limit orders were allowed during the first two hours.
Analysts note that early price movements after major exchange listings often reflect short-term speculation rather than long-term value. The previous closing price stood at about 3,707 Korean won, while price action during the opening period fluctuated amid heightened activity.
Leave a Reply