The cryptocurrency exchange Upbit announced the launch of trading pairs for the Drift token, causing a sharp increase in its price.
Upbit Lists DRIFT
Earlier today, South Korea's largest crypto exchange Upbit announced the listing of Drift (DRIFT), supporting the KRW, BTC, and USDT markets. The listing is scheduled for 18:00 Korean time, and buy orders will be restricted for approximately 5 minutes after trading support begins, according to the official announcement.
DRIFT Hits New All-Time High
At the moment of writing this article, DRIFT is trading above $0.91, up by more than 100% in the past 24 hours. Earlier, following Upbit’s listing announcement, the token reached a new all-time high above $0.95, after beginning a rise in price from levels of around $0.51. The token now has a market cap of over $225 million.
Drift's Latest Updates
On November 7, the team at Drift announced that the project welcomed cbBTC, Coinbase’s wrapped Bitcoin on Solana. cbTBC went live as a spot asset as collateral on Drift. Coinbase also revealed the news via its X account, highlighting that cbBTC is an SPL token backed 1:1 by BTC held in custody by the crypto exchange. This is the first token Coinbase has issued on Solana, and it brings easy access to BTC.
The listing of DRIFT on Upbit has led to a significant price increase and has drawn attention to the project, especially after news of partnerships with Coinbase and the introduction of new assets.
