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Upbit, one of South Korea’s leading digital asset trading platforms, has announced the listing of Nervos Network’s native token, CKB. This announcement coincided with an 18% increase in the token’s value over the past 24 hours, significantly boosting its market capitalization and trading volume.
Announcement of CKB Listing
Upbit declared that CKB will begin trading on September 13. The platform confirmed that deposits and withdrawals can be made to a personal wallet address that has completed “ownership verification.” It also warned that incorrect transfer attempts may require refunds, urging investors to proceed with caution.
Market Regulations
Following the listing of CKB, the market will implement restrictions on purchase orders to counter severe fluctuations, limiting them to five-minute intervals. Additionally, sell orders will be capped at 10% or less than the previous day’s closing price. Trading activities, including market price and pre-order transactions, will also be restricted for about an hour post-listing.
Currently, Nervos Network (CKB) is trading at $0.0106, witnessing an 18.8% increase, with its trading volume rising by 589.60% to reach $119 million. Its market capitalization stands at $475 million, making it the 115th largest cryptocurrency on CoinMarketCap. Since last September, CKB has shown a remarkable increase of 301.90%.
Upbit aims to increase its trading volume by listing multiple altcoins this year. Recent additions include Beam (BEAM) in May and Ethereum 
$2,484 Name Service (ENS) in July. The platform has also started trading tokens like BIGTIME, UXLINK, and Aether’s ATH, highlighting its expansion strategy.
Analysis of CKB’s price movements indicates a Relative Strength Index (RSI) of 67.96, showing that bulls are maintaining control over the token’s price. However, if the RSI touches overbought levels, investors may choose to realize their gains.
