Injective price increased by over 10% today and exceeded the $ 23 level in a short time. Although this rise was supported by the positive sentiment in the overall crypto market, INJ’s listing on Upbit, one of South Korea’s leading exchanges, was the main reason for the price rise.
INJ Begins Trading on Upbit
Upbit announced that it will support INJ transactions on both KRW and USDT markets. This flexibility offers a variety of options for investors. Considering Upbit’s new token listing standards, this move demonstrates confidence in INJ’s long-term institutional value.
According to Upbit’s official statement, INJ transactions started at 18:15 on October 17, 2024. The listing will contribute to increased liquidity and attract new investors to Injective. This situation may pave the way for the price to rise further in the coming days.
“The market expects the crypto to surpass $24 and we believe it can climb to new highs once it reaches the key support level.” -Crypto Tony.
Listing Measures Taken
Upbit has introduced a temporary buy limit for the first five minutes and restrictions on sell orders 10% below the previous day’s closing price. These measures aim to prevent market fluctuations at the beginning of trading.
Broad market trends also point to the rise of top altcoins. The “Uptober” mood and the upcoming US elections are expected to further stimulate the crypto market. Bitcoin 
$67,355The recent test of 68 thousand dollars also affects the general market spirit positively.
According to CoinGlass data, there was a 21% increase in Injective’s open positions. This shows that demand in the market is increasing and indicates that INJ could potentially reach new highs.
As a result, Injective’s listing on Upbit and market dynamism positively affects INJ’s price. For investors, these developments offer promising signals about the future of Injective in the crypto market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
