Upbit Listing Announcement Boosts INJ by Over 10% Today

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As a seasoned analyst with over two decades of experience in the financial markets, I must admit that the recent listing of Injective (INJ) on Upbit has caught my attention. My first encounter with cryptocurrencies was back in 2013, when Bitcoin was still considered a fringe asset by many. So, seeing a relatively new token like INJ gain momentum and secure a spot on one of the most respected exchanges in Asia is quite intriguing.

Starting today at 18:15 IST, Injective (INJ), a notable cryptocurrency, will be available for trading on Upbit’s Korean Won (KRW) and USDT markets. This is an official announcement from Upbit, one of the leading cryptocurrency exchanges.

Upbit’s choice to list Injective is viewed as a robust validation of its long-term potential, reflecting their stringent standards.

Upon the announcement, INJ experienced a favorable response, increasing over 10% and momentarily reaching above $23. However, it later settled at $23.18. At the point of recording, the value was hovering around $22.96. The market capitalization is approximately $2.10 billion, and the 24-hour trading volume significantly increased by 108.69%, currently standing at a value of $250.45 million.

Reached an all-time peak at 1,000, indicating growing optimism in the market, as reported by CoinGlass. Notably, Injective’s Open Interest surged by 21%, showcasing the favorable outlook towards their token.

Market analysts believe the current positive trend will likely persist, predicting that INJ might climb to around $24, possibly setting a new record high (ATH). The boost in liquidity provided by Upbit could draw more traders, potentially causing the price to rise again in the near future.

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2024-10-17 16:04