COW leaps nearly 50% after Upbit announces listing on BTC, Korean won and Tether markets

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.

According to a recent notice, Upbit will be listing COW (COW), the CoW Protocol native token starting from Feb. 25 at approximately 20:30 KST. The Ethereum (ETH)-based token will be available for trading on the Korean won, Bitcoin (BTC) and Tether (USDT) markets. Users can begin depositing COW on Upbit at 19:30 KST.

Shortly after Upbit announced it will be listing COW, the token saw a major leap in price. COW soared as high as 46% mere minutes after the notice was posted, reaching a peak of $0.46 in daily trading. At the time of writing, COW is trading hands at $0.43.

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

The CoW Protocol native token has a market cap of $173.6 million and a fully diluted valuation which stands at $420 million. In the past 24 hours, COW’s trading volume has seen a 568.60% increase to $114 million in the past 24 hours, indicating a significant rise in trading activity.

Buy orders for COW will be restricted for five minutes after trading support begins. While all types of orders, with the exception of limit orders, will be restricted for an hour after trading support begins. Sell order prices are capped at a minimum of 10% less than the previous day’s closing price.

The CoW Protocol is a decentralized trading platform with intent-based aggregator as its main service. It also provides features like Maximal Extractable Value blockers, Remote Procedure Call solutions, and Automated Market Makers. COW is the CoW Protocol’s native token and is used for governance.