Coinspeaker
Upbit to List Nervos Network: CKB Skyrockets Massive 18%
One of the leading four digital asset trading platforms in South Korea, Upbit, announced that it would be listing CKB, the native token of the Nervos Network, which resulted in the altcoin rallying a massive 18% in the past 24 hours coupled with a significant boost in the cryptocurrency’s market capitalization and trading volume.
According to an announcement from Upbit on Friday, CKB will be listed on the crypto exchange on September 13th at 10:00 UST, and the firm also confirmed that “deposits and withdrawals can only be made to a personal wallet address for which ‘ownership verification’ has been completed”, adding:
“Even if the deposit is made through a linked personal wallet, the deposit may need to be returned depending on the network of the asset in question.”
It is important to note that, as per CoinMarketCap data, Upbit is currently the fifth largest cryptocurrency exchange by spot trading volume, which amounts to $1.4 billion. The firm only supports the Korean won and has a total of 213 coins available to its customers. It is preceded by Bybit and succeeded by Kraken.
Once Nervos Network (CKB) is listed on Upbit, the buy orders will be restricted for a total of five minutes to prevent extreme volatility in the market. Also , sell orders will be restricted at a price of 10% or less compared to the previous day’s closing price for 5 minutes after listing. Finally, market price and pre-order transactions will be restricted for approximately 1 hour following the listing.
Notably, Upbit has listed various altcoins this year, attempting to boost the trading volume on its exchange platform. In May, the South Korean exchange listed Beam (BEAM) on its trading platform and also added support for Ethereum Name Service (ENS) in July. The exchange also added trading of BIGTIME, UXLINK, and Aether’s ATH tokens.
Nervos Network (CKB) Price Analysis
Nervos Network (CKB) is up 18.8% and is trading at $0.0106 with a massive 589.60% jump in its trading volume, which amounts to $119 million. On the other hand, altcoin’s market valuation is $475 million, making it the 115th-largest cryptocurrency on CoinMarketCap.
In the past week, CKB rose 38.45%, while in the last 30 days, altcoin surged 23.12%. Nervos Network is up an astounding 301.90% since September last year and has outperformed the majority of cryptocurrencies in the digital asset space.
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Nervos (CKB) price analysis. Photo: TradingView
- The Relative Strength Index (RSI) for the Nervos (CKB) price action above reads a value of 67.96, which confirms that the bulls are currently in control of the altcoin’s price action and the chances of the continuation of the uptrend are high. However, if the RSI touches oversold levels, it is possible that investors might capitalize on the gains made thus far.
