Upbit's Listing Announcement Increased the Altcoin Price

South Korea's leading cryptocurrency exchange Upbit announced on October 10 that it will list a new altcoin called Infinit (IN). This announcement has led to a striking increase in the altcoin's price, thus attracting the attention of investors.

Infinit (IN) will begin trading on the Upbit platform with the South Korean Won (KRW) trading pair on October 10 at 15:30. The exchange stated that investors can only make Infinit (IN) investments via the Ethereum network. It was cautioned that transfers from other networks will not be supported; therefore, investors need to be careful with their transfer operations. Otherwise, it was noted that the refund process for transfers made via the wrong network could take a long time.

The announcement highlighted that purchase orders for Infinit (IN) will be restricted during the first 5 minutes, and only limit orders will be accepted during the first 2 hours after listing. Additionally, it was stated that during the first 5-minute process, the asset cannot be sold at prices lower than 10% of the previous day's closing price. These measures were taken to regulate transaction flow in relation to the market interest and trading speed.

According to CoinGecko data, the price of Infinit (IN) has increased by approximately 171% in the last 24 hours, rising from $0.1122 to $0.3046. This extraordinary increase clearly demonstrates the impact of the listing announcement and has heightened investor interest.

It is important for investors to be cautious before trading Infinit (IN). In addition to the listing date, details such as warnings regarding the Ethereum network and price restrictions should be carefully evaluated. In the coming period, monitoring the performance of the altcoin and its effects on the market will be critical for being informed about price movements and potential investment opportunities.