COW Price Rises Over 50% Following Upbit Listing Announcement
The price of COW, the native asset of CoW Protocol, surged over 50% following Upbit's announcement to list it on February 25.
Upbit Listing Details
- COW will launch on Upbit at approximately 20:30 KST.
- Trading pairs will include the Korean won, Bitcoin, and Tether.
- Deposits begin at 19:30 KST.
- Buy orders will be restricted for five minutes, limit orders for one hour.
- Sell orders will have a minimum price set 10% lower than the previous day’s close.
COW's price rose by 50.6%, reaching $0.46, after closing at around $0.29. As of now, it trades at $0.4961, with daily trading volume increasing over 2460%.
The COW token facilitates governance within the CoW Protocol, which acts as an intent-based aggregator.
Upbit's Market Position
- Upbit recently listed JTO, contributing to its price increase of over 30%.
- The exchange supports over 233 digital assets, including major cryptocurrencies like Bitcoin, Ethereum, and Solana.
- It controls over 80% of South Korea’s market share.
- Despite facing regulatory challenges and a partial business suspension from the Financial Intelligence Unit, Upbit remains the fifth largest crypto exchange by trading volume.