CoW Protocol’s native token (COW) has soared 46% after South Korean exchange Upbit announced its listing on February 25. The token, which had been trading at $0.29, spiked to a daily high of $0.46 shortly after the announcement.
Upbit Announces COW Listing on Multiple Markets
According to Upbit’s official notice, COW will be available for trading across three major markets:
- Korean Won (KRW)
- Bitcoin (BTC)
- Tether (USDT)
Users were able to start depositing COW at 19:30 KST, while trading officially went live at 20:30 KST.
COW Token’s Market Performance
Following the announcement, COW experienced a rapid price surge, reflecting heightened demand from traders.
- COW jumped 46% to a peak of $0.46 before stabilizing at $0.43.
- Over the past week, the token has gained 34.2%, but it remains down nearly 30% from last month.
- Trading volume skyrocketed by 568.60%, reaching $114 million in the last 24 hours.
At present, COW’s market capitalization stands at $173.6 million, with a fully diluted valuation of $420 million.
Upbit’s Trading Restrictions for COW
Upbit has implemented temporary restrictions on COW trading to prevent extreme volatility:
- Buy orders will be restricted for the first five minutes after trading support begins.
- All orders, except limit orders, will be restricted for an hour after trading starts.
- Sell orders must be placed at no less than 10% below the previous day’s closing price.
What is CoW Protocol?
CoW Protocol is a decentralized trading platform that uses an intent-based aggregator model to optimize trades. The platform is designed to minimize Maximal Extractable Value (MEV) while offering automated market maker (AMM) solutions and RPC (Remote Procedure Call) features.
The COW token serves as the governance token of the protocol, allowing holders to participate in decision-making and protocol upgrades.
Final Thoughts
The Upbit listing has significantly boosted COW’s price and trading activity, signaling strong market interest. As trading stabilizes, investors will watch closely to see whether COW can maintain its momentum or face corrections in the coming days.
