Injective's (INJ) price rose by over 10% today, surpassing the $23 level. The primary reason for the surge was its listing on Upbit, one of South Korea's leading exchanges.

INJ Begins Trading on Upbit

Upbit announced it will support INJ trading in both KRW and USDT markets, providing various options for traders. According to Upbit’s official announcement, INJ trading commenced on October 17, 2024, at 18:15. The listing is expected to enhance liquidity and attract new investors to Injective.

Measures Taken for the Listing

Upbit implemented temporary buy limits for the first five minutes and restrictions on sell orders below 10% of the previous day’s closing price. These measures aim to prevent market fluctuations at the start of trading. Broad market trends indicate a rise in altcoins, and Bitcoin's recent test of $68,000 also positively affects market sentiment.

Market Impact and Conclusion

According to CoinGlass data, there has been a 21% increase in open positions for Injective, indicating rising market demand. The listing on Upbit, along with market dynamism, positively impacts INJ's price, offering promising signals about Injective's future in the crypto market.

Injective’s listing on Upbit and favorable market trends significantly boost its price, providing optimistic prospects for the token's future in the crypto market.