CoW Protocol’s Native Token Soars 46% After South Korean Exchange Upbit Announces Listing

CoW Protocol’s native token has soared 46% after South Korean exchange Upbit announced it will be listing the token on its platform on Feb. 25.

South Korean cryptocurrency exchange Upbit has announced the listing of the CoW Protocol (COW) token on Feb. 25.

The exchange will be listing COW/KRW, COW/BTC and COW/USDT trading pairs. Users will be able to start depositing COW on Upbit at 19:30 KST, while trading support will begin at 20:30 KST.

Following the announcement, the COW token price saw a major increase. Within minutes of the notice being posted, COW soared as high as 46% to reach a peak of $0.46 in daily trading. At the time of writing, COW is trading at $0.43.

According to the Upbit notice, the previous day’s closing price for COW was around 418 Korean won ($0.29). In the past week, COW has seen a rise in value by 34.2%. However, it has experienced a decrease of nearly 30% in the past month.

The COW token has a market capitalization of $173.6 million and a fully diluted valuation of $420 million. In the past 24 hours, COW’s trading volume has seen a significant rise, increasing by 568.60% to reach $114 million.

After trading support begins, buy orders will be restricted for five minutes. Additionally, all order types, except for limit orders, will be disabled for one hour. Sell order prices are also subject to a minimum decrease of 10% from the previous day’s closing price.

The CoW Protocol is a decentralized trading platform that offers an intent-based aggregator, Maximal Extractable Value blockers, Remote Procedure Call solutions and Automated Market Makers. The COW token serves as the native governance token of the CoW Protocol.