Points
- UpbitannouncesnewtradingsupportforJupiter（JUP）coin.
- JUPcanbetradedwiththreepairs:KoreanWon（KRW）,Bitcoin（BTC）,andTether（USDT）.
- Restrictionsonbuyandsellorderswereimplementedshortlyaftertradingsupport.
- JUP’spriceexperiencedvolatilityfollowingtheannouncement.
On July4,Upbit,SouthKorea’smost trusted global standard digital assetexchange,announced new digital asset trading support for Jupiter（JUP）coin.As per the newguidelines,individuals can trade JUP with three different trading pairs including Korean Won（KRW）,Bitcoin（BTC）,and Tether（USDT）.
As per thenotice,buy orders are restricted for approximately5minutes after tradingsupport,and sell orders at prices less than10%of the previousday’sclosing price are restricted for approximately5minutes after tradingsupport.Also,market and reservation orders are restricted for approximately1hour after tradingsupport.
Within a fewhours,the announcement spikedJUP’sprice from$0.7457to$0.8092before dropping to$0.7983at presstime.In the past7days,the coin surged by3.63%and has a market cap of$1,079,230,943and$217,368,610in24-hourvolume.However,the coin did not receive as much attention as the Bounce Token（AUCTION）did when Upbit announced its tradingsupport.
RecallingUpbit’sPreviousDecisionsandMarketStanding
On June14,the exchange listed Ondo Finance（ONDO）,the native token of thereal-worldasset（RWA）tokenization project which surged the token price from$1.39to$1.21in a singleday.At the time ofwriting,the token was trading at$1.09,after a4.48%drop in aday.
Similarly,the exchange listed the Oasys（OAS）token on May23which ledUpbit’scoin support to204,supporting347tradingpairs.According to CoinGeckodata,Upbit holds a trust score of9/10with$1,368,017,100in24-hourtradingvolume.Moreover,the exchange has9.53million monthlyvisits.
Conclusion
Upbit’srecent addition of JUP to its trading platform has had a noticeable impact on thecryptocurrency’sprice,demonstrating theexchange’sinfluence in the digital assetmarket.While the immediate response toJUP’slisting did not match the fervor seen withAUCTION,the move is indicative ofUpbit’songoing strategy to expand its offerings and maintain its position as a leadingexchange.
解説
- Upbit’sannouncementofnewtradingsupportforJupiter（JUP）underscorestheexchange’scommitmenttoexpandingitsofferingsandprovidingdiversetradingoptions
for itsusers.
– TherestrictionsonbuyandsellordersimmediatelyaftertradingsupportreflectUpbit’seffortstomaintainmarketstabilityandpreventexcessivevolatility.
– TheinitialpricespikeandsubsequentvolatilityinJUP’spricehighlightthedynamicnatureofcryptocurrencytradingandthesignificantimpactthatexchangelistingscanhaveonassetprices.
– Upbit’sstrongmarketposition,asindicatedbyitshightrustscoreandsubstantialtradingvolume,demonstratestheexchange’sinfluenceandtheimportanceofitsstrategicdecisionsinthebroadercryptocurrencymarket.