Injective’s price rose by over 10% today, surpassing the $23 level quickly. While this increase is supported by a positive atmosphere in the overall crypto market, the primary reason for the surge in INJ’s value 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. This flexibility offers various options for traders. Considering Upbit’s new token listing standards, this move demonstrates confidence in INJ’s long-term institutional value.
According to Upbit’s official announcement, INJ trading commenced on October 17, 2024, at 18:15. The listing is expected to contribute to increased liquidity and attract new investors to Injective, potentially paving the way for further price increases in the coming days.
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 at the top. The “Uptober” atmosphere and the upcoming US elections are expected to further energize the crypto market. Bitcoin 
$60,409 testing $68,000 recently also positively affects overall market sentiment.
According to CoinGlass data, there has been a 21% increase in open positions for Injective. This situation indicates a rising demand in the market, suggesting that INJ could potentially reach new heights.
In conclusion, Injective’s listing on Upbit and market dynamism positively impact INJ’s price. These developments provide promising signals about Injective’s future in the crypto market.
