Upbit, a popular South Korean cryptocurrency exchange, has made an exciting announcement regarding the addition of a new altcoin to its platform. On May 29, Upbit revealed that it will be listing Bounce (AUCTION), a cryptocurrency project that focuses on auction technology built on the blockchain.

Bounce, developed by Bounce.Finance, is a decentralized auction platform that enables users to exchange tokens in a competitive environment where the token supply is limited. The project has garnered support from prominent players in the crypto space, including Pantera, Coinbase Ventures, and Blockchain Capital.

The news of Upbit’s listing of AUCTION caused a significant surge in its price. Within a few hours, AUCTION skyrocketed from $16 to over $31, marking an impressive gain of approximately 94%. Currently, AUCTION is priced at $24.71, with a market capitalization of $160 million.

According to Lookonchain, a blockchain tracking firm, a whale investor who had bought AUCTION in late February had to wait for three months to break even. The whale had purchased AUCTION at $30 and withdrew 59,599 AUCTION tokens worth $1.79 million from Binance. Unfortunately, the price of AUCTION started to decline until the announcement of its listing on Upbit.

This recent development showcases the potential of AUCTION and highlights the importance of staying informed about the dynamic crypto market. Investors are advised to conduct thorough research before engaging in high-risk investments involving Bitcoin, cryptocurrencies, or digital assets. It is crucial to note that all transfers and trades carry their own risks, and any losses incurred are the responsibility of the individual investor. The Daily Hodl, where this information was sourced from, does not provide investment advice or act as an investment advisor.