KernelDAO (KERNEL) price soared double digits following Upbit’s announcement that the altcoin will be available in the Korean market.
Listing announcements tend to increase bullish momentum for the associated altcoin, especially when it concerns popular exchanges such as Upbit, Binance, and Coinbase.
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Upbit to List KERNEL: Everything you need to know
Upbit announced that it will list KernelDAO’s KERNEL token on Tuesday, with trading scheduled for October 28th at 16:30 KST. Immediately after that, KERNEL prices soared by more than 23%.
With this listing announcement, Upbit urged users to check the network before depositing their digital assets.
“Deposits and withdrawals made via networks other than those listed are not supported. If sufficient liquidity is not available after this announcement, the start of trading may be delayed,” reads an excerpt from the announcement.
Additionally, the largest exchange in South Korea regarding trading volume indicators indicated that the trading limit price will be determined based on the price offered on the Upbit BTC market.
In particular, the previous closing price of KERNEL’s BTC market was 0.00000144 BTC, which is equivalent to approximately 243.3 KRW. Additional details that traders should be aware of include:
Upbit only supports deposits and withdrawals via the KERNEL-Ethereum network. This exchange will not process deposits from exchanges that are not compliant with the Travel Rule, and refunds may take longer. Only verified personal wallet addresses (confirmed in your name) are eligible for deposits and withdrawals. In the case of large deposits of unknown origin, proof of funds may be required under Article 17(8) of the Terms and Conditions. Sponsored Sponsored
Meanwhile, KERNEL will be added to the list of Upbit listing initiatives in October, following last week’s Synfutures (F) token and Clearpool (CPOOL). As reported by BeInCrypto, F token soared 120% and CPOOL soared over 91%.
Based on this, KERNEL may be poised to earn further profits as the listing increases the liquidity of the altcoin and thus the demand.
The same goes for altcoin listings on exchanges like Binance, where RESOLV soared 460% just recently after the listing was announced. Similarly, Coinbase’s listing in late September led to double-digit growth for Centrifuge (CFG) and TROLL.
However, while this development increases interest from early investors, traders should be wary of being caught off guard by exit liquidity. This often happens when investors cash out for a quick profit. This kind of setup is a classic play on the buy-the-rumour-sell-the-news situation.
The next big bet in restaking?
KernelDAO is a restaking infrastructure project. We offer services such as restaking on the BNB chain, support for BNB Liquid Restaking Tokens (LRT), and BTC restaking opportunities.
It also offers the Ethereum Restaking Protocol, which runs on the Ethereum chain, and vault-style smart contracts to manage staked ETH, rsETH, and LST assets. KERNEL tokens will be used for governance, re-staking, and slash insurance functions.
Investor interest in KernelDAO stems from the ability to leverage multiple features under a unified governance token. This means using a single ecosystem rather than managing three different protocols.
