Key Notes
- Upbit announced the listing of Treehouse.
- TREE recorded a 90% rally within minutes of the announcement.
- The Korean exchange registered a $3 billion daily trading volume.
Treehouse (TREE), the native token of the decentralized fixed income protocol Treehouse Finance, has been listed on the leading South Korean cryptocurrency exchange Upbit.
Upbit announced the listing early on Aug. 28. One of the Korean top crypto exchanges listed the TREE token with KRW, Bitcoin
BTC
$113 014
24h volatility:
1.7%
Market cap:
$2.25 T
Vol. 24h:
$37.75 B
, and USDT trading pairs and started transaction support at 4:00 PM KST.
TREE saw an impressive rally from $0.31 to $0.58 within minutes of the initial announcement from Upbit. The market value of the token reached a local high of roughly $90 million with a daily trading volume of over $300 million.
The Ethereum-based protocol already saw notable attention from some of the leading crypto exchanges. TREE has already been listed on Binance, Bybit, Coinbase, Bitget, MEXC and multiple centralized and decentralized exchanges.
Listings from top exchanges bring higher liquidity and potential to rise.
TREE saw a quick selloff from short-term traders and is currently trading at $0.49 with a $77 million market cap.
The token is sitting in the bullish zone as it’s seeing strong attention from traders on Binance — the exchange alone recorded nearly $100 million of TREE trading volume with USDT and TRY trading pairs.
Now with the Upbit listing, TREE is exposed to the South Korean market. The exchange has a trading volume of over $3 billion, according to data from CoinMarketCap.
Breaking above the $0.55 mark could push TREE to reach its $1.35 all-time high with a market cap of over $200 million.
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Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.
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Source: https://www.coinspeaker.com/tree-skyrockets-90-percent-upbit-listing/