📈 Why Injective (#INJ ) Price Rockets 10% Suddenly?

Injective price skyrocketed more than 10% today, after the leading South Korean exchange Upbit announced to list the INJ token on its platform.

Injective price has soared more than 10% today, crossing the brief $23 mark, echoing the positive sentiment hovering in the broader market. The rally comes as the INJ crypto secures a major listing on a leading Korean exchange, indicating the exchange’s confidence in the crypto. Besides, the market is anticipating the rally to continue, potentially hitting $24, which might propel further surge to a new ATH.

🔸 Why Injective Price Soared Today?

A flurry of factors, including the positive sentiment in the broader crypto market, could have driven the crypto’s price higher today. However, it appears that the significant spike in Injective price today could be attributed to the listing announcement by the top South Korean crypto exchange, Upbit.

Upbit recently announced that it would support INJ trading on its platform in both KRW (Korean Won) and USDT markets, offering flexibility to investors. This move has been seen by many as a vote of confidence in the crypto’s long-term value, given the exchange’s strict standards for listing new tokens.

According to Upbit’s official announcement, trading for INJ will commence at 18:15 on October 17, 2024. The listing is expected to increase liquidity and attract new traders to Injective, potentially pushing its price higher in the coming days.

Upbit has outlined specific rules for trading, including a temporary buy limit for the first five minutes to prevent price volatility, along with restrictions on sell orders below 10% of the previous day’s close.

However, the exchange has set specific rules for the crypto’s trading. For instance, it has imposed a temporary buy limit for the first five minutes to avoid price volatility. In addition, it also set restrictions on sell orders below 10% of the previous day’s closing price.