Ethereum Altcoin Explodes 143% After Korean Crypto Exchange Upbit Abruptly Announces Trading Support

The South Korean crypto exchange Upbit has announced a new listing for a data feed-focused altcoin, triggering explosive price action.

According to a new announcement, Upbit is supporting Api3 (API3) for trading over the Ethereum (ETH) network on its platform starting Tuesday.

Amid the announcement from Upbit, API3 exploded from Monday’s low of $0.748 to Wednesday’s high of $1.82, a more than 143% gain.

API3 has since retraced and is trading for $1.34 at time of writing, up 60.6% on the day. With a market cap of $169.72 million, API3 is the 350th largest crypto project.

The project celebrated its latest crypto platform listing on X.

“We’re proud to be listed on Upbit, the leading exchange in Korea. With support for both KRW and USDT pairs, this listing enables wider access and strengthens our position in one of the world’s most dynamic crypto markets.”

API3 is a decentralized data oracle network that aims to connect traditional APIs with blockchain applications. Oracle networks function by providing real-time data to blockchains to help them execute smart contracts.

Says the project,

“For DApps (decentralized applications) that utilize data feeds, this is only possible with a data feed provider that has recognized this fact and designed their solutions accordingly. Our answer to this is Api3 Market, which enables a DApp developer to purchase a plan for the data feed they need and integrate it within minutes, without speaking to a representative or signing a contract.

Furthermore, the whole system is designed to streamline the addition of support for new networks and data feed types, resulting in a large and dynamic catalog.”

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