Upbit Listing Sends Jibrel Network (JNT), Cred (LBA) Soaring
The platform added the two assets to its domestic and international Bitcoin (BTC) markets, following similar moves by US peer Bittrex.
Jibrel Network (JNT) and Cred (LBA), two native tokens inside blockchain-driven platforms, jumped 42% and 21%, respectively, on a daily basis on Wednesday morning UTC as South Korean crypto exchange Upbit listed both assets on its domestic and international platforms.
Upbit added the two assets at 17:00 UTC on Tuesday, offering them only in a pair with Bitcoin (BTC). The move triggered immediate price increase for both cryptos, but the impact was more pronounced for Seoul-based Jibrel Network since Upbit is the first major domestic trading venue to support the project.
JNT moved from $0.04 around five minutes before the listing to $0.061 less than an hour later. The coin sustained its momentum and was changing hands at $0.064 within 12 hours, representing a 42.29% increase from the previous day. Jibrel Network clocked $1.7 million in trading volume for the 24 hours to 10:58 UTC on Wednesday, according to Coinmarketcap data. US-based Bittrex, which added the coin to its international BTC roster earlier this week, accounted for 52.82% of the volume, or $618,344. The second place went to Gate.io, where Tether (USDT), Bitcoin, and Ethereum (ETH) pairs recorded $344,003 in trading volume (16.72%).
Jibrel Network, which offers blockchain infrastructure solutions, currently sits at number 219 on` the cryptocurrency market capitalization list with $10.8 million in value.
LBA, the token of US blockchain-driven lending project Cred, spiked from $0.015 several minutes before the Upbit listing to nearly $0.018 within 60 minutes. At 10:58 UTC on Wednesday, the asset traded at just under $0.19, or 21.04% higher on a daily basis.
LBA clocked $1.3 million in trading volume for the last 24 hours, with Asian-based exchanges emerging as its largest markets. Huobi BTC and ETH pairs made up $558,467 (41.7%) of the total. OKEx came second, with its BTC, USDT, and ETH markets achieving $472,703 (35.29%). There was still no available data about the Bittrex LBA-BTC pairs as the exchange added the asset to its US and international venues around midday UTC on Tuesday.
Cred ranks at number 255 by market cap with $8.7 million in value.