NCT price surges 200% on Upbit KRW listing

South Korean cryptocurrency exchange Upbit announced on Aug. 26 that it will add PolySwarm’s $NCT token to its Korean won market.

$NCT/KRW trading is scheduled to begin at 9:00 p.m. Korea Standard Time.

The listing gives $NCT a direct fiat trading route on South Korea’s largest crypto exchange by reported domestic volume. $NCT already trades against Bitcoin on Upbit, with the exchange using that market’s previous closing <a href="https://xpertsstudio.com/xrp-price-falls-5-as-leverage-hits-seven/” title=”XRP price falls 5% as leverage hits seven”>price to set its initial KRW trading controls.

Upbit will open $NCT/KRW with temporary restrictions

Upbit’s official notice listed $NCT’s previous $BTC market close at 0.00000006 $BTC, equivalent to approximately 6.55 won. This figure serves as a reference for early order restrictions rather than a guaranteed opening price.

Buy orders will be blocked for approximately five minutes after trading begins. Sell orders priced 10% or more below the reference price will face the same restriction. Only limit orders will be available during the first two hours.

The exchange warned that the opening “may be postponed” if deposits and withdrawals do not produce sufficient liquidity. At the time of research, Upbit had not announced a delay, and the market remained scheduled to open at 9:00 p.m. KST.

These controls follow the structure used for other recent additions. As crypto.news reported, Upbit also restricted early orders after adding LIT to its Korean won market on Aug. 24.

$NCT price jumps before the Upbit listing

$NCT recorded a sharp market response before the Korean won pair opened. The token traded near $0.0146 as of 7:43 p.m. KST, gaining approximately 200% over 24 hours

Its 24-hour trading volume reached about $15.36 million, while its market capitalization stood near $24.28 million. $NCT traded between approximately $0.004626 and $0.01384 during the period.

The increase occurred after Upbit published its listing announcement, although market data alone cannot prove the exchange decision caused the entire move. $NCT was also trading on Bithumb, Coinbase, Gate and smaller venues.

Korean exchange listings have previously coincided with sharp short-term price moves. In related coverage, Upbit’s decision to add three GRVT trading pairs was accompanied by a 23% increase before trading opened.

Upbit will waive $NCT/KRW fees for 24 hours

Upbit will reduce its standard $NCT/KRW trading fee from 0.05% to 0% during the market’s first 24 hours. The promotion is scheduled to run from 9:00 p.m. on Aug. 26 until 8:59:59 p.m. on Aug. 27.

If Upbit delays the listing, the zero-fee period will instead begin when trading opens. The waiver applies to standard order fees and does not remove the risks associated with rapid price changes or thin liquidity.

$NCT deposits and withdrawals will be supported only through Ethereum. Upbit identified the supported contract as 0x9e46a38f5daabe8683e10793b06749eef7d733d1, matching the address shown by Etherscan and major market-data providers.

Transfers through unsupported networks may not be credited automatically. Upbit also requires customers to follow its Travel Rule and personal-wallet ownership verification requirements.

PolySwarm uses $NCT in its malware marketplace

PolySwarm describes itself as a decentralized threat-intelligence marketplace. Security engines compete to identify malicious files and receive $NCT based on their performance.

Project documentation states that $NCT also provides access to threat intelligence generated through the platform. The ERC-20 token has a fixed maximum supply of approximately 1.886 billion $NCT, with nearly all tokens reported as circulating.

Attention will now move to the $NCT/KRW opening price, early trading volume and whether Upbit extends any restrictions. The zero-fee campaign is scheduled to end on Aug. 27 unless the exchange postpones the market launch.

Source: cryptonews.net