Market

ALGO is up 75% and AUDIO is up 55% after being listed on Upbit

It’s been a long time since investors saw a strong coin pump from listing on a major exchange, but today it appears to have happened with Algorand (ALGO) and Audius (AUDIO).

In one notification On November 18, the major South Korean crypto exchange Upbit announced that it would list ALGO and AUDIO, users can buy them with KRW (Korean local currency).

ALG’s price rose 75% to $ 2.93 within an hour of the announcement. Listed altcoins have barely seen any spike this year, with DeFi, NFT, and related airdrops taking center stage in the pumps. That surge was short-lived, however, and ALGO has since fallen to $ 1.87 at press time.

1-hour framework ALGO price table | Source: Tradingview

ALGO is still 48% below its all-time high (ATH) of $ 3.56 in June 2019, despite climbing to an annual high of $ 2.38 by the middle of 9 years of the month. The move coincides with a $ 100 million sponsorship deal between Algorand and the Drone Racing League.

Algorand is a scalable, high-speed blockchain that supports smart contracts and is based on a proof-of-stake (POS) consensus.

Koreans like ALGO and AUDIO

Upbit also listed AUDIO concurrently with ALGO and saw a similar increase as well. AUDIO is the native token of Audius, a decentralized music streaming and sharing protocol that enables direct content transactions between listeners and creators with no middlemen.

AUDIO price rose 55% within an hour of Upbit’s announcement. It rebounded from around $ 2.30 to $ 3.58 before falling back to the current $ 2.71. As of now, AUDIO is down 32.5% from its ATH of $ 4.95 on March 27th.

AUDIO 1-hour chart | Source: Tradingview

Little known altcoin pump on Upbit

Dealer “Haska” has comment on the rise in lesser-known altcoins with KRW pairs:

“Bitcoin accounts for 4% of the trading volume on Upbit. The top 3 coins, which make up 30% of the trading volume, are coins that you may never have heard of. “

At press time, Humanscape’s HUM token is up 72% over the day, digital content distribution platform BORA has a significant trading volume, but prices are falling, and Mossland’s MOC is up after a 30-day increase of% Hours slumped.

According to CoinGecko, Upbit ranks second after Binance in terms of standardized 24-hour trading volume of currently $ 16 billion.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Mr. Teacher

According to BeinCrypto

Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

SEC Chair Gary Gensler’s Downfall Sends Cryptocurrency Soaring

The potential departure of SEC Chair Gary Gensler after Trump’s presidential victory is sparking a…

42 mins ago

Illinois Tech Worker Won Big with Solana – Now She Sees BlockDAG as the Next Solana

After making $40,000 in profits with Solana, Illinois tech worker Laura Kim is now betting…

55 mins ago

Robinhood CLO Dan Gallagher Generates Excitement As Potential New SEC Chair

Trump’s transition team is considering Robinhood CLO Dan Gallagher, Paul Atkins, and Robert Stebbins as…

1 hour ago

Why is the XRP Price Down Today? Market Expert Replies and Points to Ripple Killer on the Rise

Experts spotlight a rising AI token poised to create a major shift in the market…

2 hours ago

Dogecoin Price Reaches 5-Month High: Here’s What’s Driving The Increase 

The Dogecoin price has reached a five-month high, and investors should buy the Ethereum token…

5 hours ago

Best Cryptos to Invest in Now: Don’t Miss Out on These Potential Game-Changers!

Crypto isn’t just for the tech-savvy anymore; it’s for everyone. As more people jump into…

6 hours ago

This website uses cookies.