Upbit crypto exchange has announced support for the Mina protocol (Mina).
Mina protocol is a cryptocurrency protocol that uses a constant size blockchain. The developers are trying to solve several problems of existing cryptocurrencies to bring a better level of efficiency to blockchain transactions. Mina is the native token of the Mina blockchain.
On October 24, 2023, Upbit crypto exchange, one of the most trusted South Korean crypto exchanges, announced support for the Mina token.
After this support from the Mina Protocol, the trading price of the Mina token increased by 98.90% within 24 hours.
Notably, the Mina token was already traded on the majority of crypto exchanges, for example the US publicly traded crypto exchange Coinbase, the global top crypto exchange Binance, Kraken, etc.
But interestingly, Upbit’s listing support acted as a very big catalyst for this token to show a big rally.
Few reports claimed that Korean crypto investors are now more inclined towards this innovative sector as the country’s financial regulators regulated the crypto companies under multiple rules and laws and ensured that crypto remained under South Korean jurisdiction.
In recent months, it has emerged that crypto investors are targeting crypto tokens using groupism. Usually, some large groups start buying one token together to increase both trading volume and trading price. Such types of activities are not easy to handle in any market (crypto and non-crypto), but in the future there will certainly be regulations that will prohibit such types of activities.
In August this year, the majority of buyers of XRP coins in the crypto market came from South Korea. On one hand, the XRP coin got the better news in the XRP lawsuit and other side traders filled their coffers to make huge profits.
Later, the trading price of XRP coins dropped by 40%, which was visible to everyone, but no one could do anything.
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