Significant developments in the crypto currency market continue to be experienced. South Korean -based popular stock market upbit announced that it lists the KRW process pair for Altcoin Compound (Comp). Following this news, there was a remarkable increase in the price of Comp.
Upbit lists the Altcoin Comp
Significant developments in the Bitcoin and Altcoin market continue to be experienced. Especially listing news continues to affect markets. In the morning, South Korean -based popular stock market upbit announced that it lists the KRW transaction pair for Compound (Comp). Following this news, there was a remarkable increase in the price of Comp. Crypto currency investors closely follow the effects of UPbit’s listing decision on the price of COMP. On April 1, 2025, the Comp/KRW parity can be traded via the Ethereum network.
UPbit warned users only to trade on the announced network and said that deposit transactions made over different networks will not be supported. This is seen as a precaution to prevent users from suffering from loss of assets due to false transfers. In addition, various trade restrictions will be applied with the opening of the transaction within the scope of market regulations. For the first 5 minutes, buying orders are disabled, while sales orders will not be 10 %below the closing price the previous day. For the first hour, only limit orders can be used. Such restrictions are applied to prevent excessive fluctuations in the market.
BIG INCREASE IN COMP PRICE
Following this listing news, there was a sharp increase in the price of the comp. The crypto currency rises to $ 79.99 for a short time, while currently trading at $ 74. In the last 24 hours, the increase in the price of Comp has reached 90.7 %.
Compound founder may be selling
On the other hand, it is claimed that Robert Leshner, the founder of Compound, sells 50,000 Comp Token through Galaxy Digital. According to AI_9684XTPA’s data, the tokens, who were transferred to Galaxy by Leshner about three weeks ago, were worth $ 2.03 million at that time. However, with the rise of the upbit listing news today, the total value of the tokens reached $ 3.19 million. In the last half an hour, all Comp Tokens are deposited in Binance. This sale is thought to be made for the purpose of procurement after the price increase.
The price of the Comp, which has gained great momentum in the short term with the decision of the upbit’s listing decision, is curious about what kind of course it will follow in the coming days.
