In a recent announcement, South Korea’s largest cryptocurrency exchange, Upbit, has revealed the listing of a new altcoin. Upbit declared that the altcoin is Injective (INJ), and they will be listing INJ in trading pairs with KRW and USDT.
Just minutes ago, the Injective platform happily announced the listing on X, and they are looking forward to millions of users in South Korea accessing their native token.
Upbit Announces the Listing of Injective (INJ)
Upbit has warned users about trading limitations and precautions. Some temporary trading restrictions mentioned include:
– Buy Order Restriction: Trading support will be disabled for the first five minutes after buy orders commence.
– Minimum Selling Price: For five minutes, sell orders below 10% of the previous day’s closing price will not be accepted.
– Order Type Restriction: Only limit orders will be allowed during the first hour, and other order types will be temporarily restricted.
Additionally, Upbit advised users to carefully verify their deposit information to avoid prolonged processing times.
What is Injective (INJ)?
Injective is a DeFi platform that enables digital asset trading, and INJ is the native token used within Injective. The issuance of INJ is limited, and it is used for governance, liquidity mining, and staking to enhance the security of the blockchain.
Following this announcement, the price of INJ surged nearly 16% instantly. At the time of writing, the token continues to show strength, trading at $21.89, marking a 8.3% increase over the past 24 hours.
