Mina (MINA) Surges Over 50% on Upbit Listing Announcement
Upbit, the largest cryptocurrency exchange in South Korea, has announced the listing of MINA, causing the coin to surge over 50% in the past 24 hours.
According to the latest announcement, Upbit has added MINA to its KRW market, with trading set to commence at 14:00 (Vietnam time) on October 24, 2023.
The exchange noted that it will only support the Mina network for deposits and withdrawals, with other networks not being supported.
This news triggered a strong rally in MINA, rising nearly 60% within the past 24 hours, peaking at $0.7 before retracing to $0.6 at present. The coin saw a 30% increase shortly after Upbit's announcement a few hours ago.
Chart of MINA/USDT price on the 1D timeframe as of 13:00 on October 24, 2023, on Binance.
This upward movement of MINA coincides with the first uptrend of the market this morning, as Bitcoin reached over $35,000, marking the highest level in 2023 and the highest since May 2022, the period of the LUNA - UST crash.
Mina Protocol positions itself as the "world's lightest blockchain," designed for stability using Proof-of-Stake consensus and zk-SNARK technology. The project has been relatively quiet in recent years without significant activity.
