Upbit, South Korea’s largest cryptocurrency exchange, has announced the inclusion of a new trading pair for MINA, the native cryptocurrency of the Mina Protocol. This pairing is denominated in Korean won (KRW), and its unveiling has already triggered a notable surge in the price of MINA.
Over the past 24 hours, MINA has experienced an impressive 50% increase in its price, with a remarkable 28% surge within the last hour. Upbit’s revelation about the KRW pairing has ignited a frenzy of buying activity among both Korean and global traders, resulting in the rapid upswing in the coin’s value.
Upbit has provided specific guidelines for this listing to ensure an equitable and secure trading environment:
Key Details for MINA KRW Trading
- Trading Start: On October 24, 2023, at 16:00 Korean time, MINA KRW trading will commence.
- Initial Trading Restrictions: For the first 5 minutes after launch, only buy orders will be accepted, with a temporary restriction on sell orders.
- Price Constraints: Sell orders will be confined to prices below 615 KRW, which represents a 10% reduction from MINA’s previous day closing price on Upbit’s BTC market.
Few months back, Upbit listed the BTC/MINA trading pair. The trading was opened on July 11, 2023, at 16:00 KST. The addition had resulted in almost 17% surged within 24 hours and reached a peak at $0.505.
MINA is built on a layer-1 blockchain protocol that leverages zero-knowledge proofs, enabling efficient scaling while maintaining a compact blockchain structure. The central mission of this project is to establish a decentralised, highly scalable blockchain that can support widespread adoption.
The surge in MINA’s price exemplifies the substantial impact of exchange listings on generating excitement and short-term price hikes. However, the sustainability of these new highs for MINA remains uncertain. In the interim, traders are actively capitalising on this momentum.