June 8, 2023
Polygon News

Polygon Gains 25% After Upbit Listing

Upbit, South Korea’s biggest crypto exchange, now offers the Polygon token MATIC for trade. Upbit processes over $7 billion in transactions every day. Customers from Korea may now deposit 10 MATIC and trade MATIC on the exchange.

Because of the announcement, Polygon’s MATIC token soared by 25%, reaching a new local high of $1.60 per token. Besides MATIC, two additional cryptocurrencies are now available for trade on Upbit; Solana and NuCypher. A small 5.8% rise in the price of Solana’s SOL token has been recorded since its listing, whereas NuCypher’s price has gone from $0.29 to $2.61, a gain of 678 %.

It’s not only Polygon and NuCypher that have benefited from being listed on an exchange. Many cryptocurrencies experienced increases of two or three figures this summer after being listed on the U.S. exchange, Coinbase. A major winner was yield aggregator Harvest Finance, which saw a 127 % increase in value after being listed on Coinbase.

Speaking of Polygon’s gaming and development arm, Polygon studios just teamed up with Unicly, according to the site (UNIC). These are protocols that combine, fractionalize and exchange non-fungible tokens (NFTs). It is anticipated that the collaboration would put Polygon-native NFT projects on the whitelist and award them with UNIC points for their work.