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YEREVAN (CoinChapter.com) — Bounce (AUCTION) trading has gone live on South Korea’s top crypto exchange, Upbit, generating excitement among speculators. As a result of this euphoria, the AUCTION token’s price has surged by approximately 55% in a day.

Upbit Announces Bounce (AUCTION) Listing. Source: Wu Blockchain

Notably, the AUCTION token price jumped from $18 to $28 hours after the Upbit announcement—a rise of over 55.6%, showing the market’s strong reaction and high investor interest.

That is primarily due to Upbit’s influence in the South Korean crypto market. Trading on Upbit accounts for over 80% of the total cryptocurrency volume in South Korea, a level of dominance unparalleled by any other exchange in a major crypto market.

The intense trading activity by local investors has propelled Upbit to rank among the top five global exchanges by trading volume, putting it in close competition with Coinbase. As a result, AUCTION’s addition to the exchange has created an upside buzz among investors and traders alike.

Why Does Bounce (AUCTION) Token Listing on Upbit Matter?

Bounce (AUCTION) is a decentralized auction protocol. It lets users create and join auctions for various digital assets. As part of decentralized finance (DeFi), Bounce (AUCTION) supports different auction types, including fixed swap auctions and sealed-bid auctions.

Types of Auctions on Bounce Finance. Source: Bounce.finance

This protocol enables users to auction digital assets such as NFTs and tokens, providing a platform for both buyers and sellers. As a result, Bounce (AUCTION) has gained recognition in the DeFi space and has attracted interest from the crypto community.

Examining the past month’s performance, the AUCTION token remained relatively stable but gained momentum in May. The token’s price increased from $16.11 on April 30 to $24.95 on May 29, marking a 52.50% rise over the month.

AUCTION Token Monthly Performance. Source: CoinMarketCap

*This is not investment advice.

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