South Korea's largest crypto exchange Upbit listed ICP Token on March 11 at 8:00 UTC, opening trading pairs against KRW, BTC, and USDT. The announcement triggered an immediate price spike of over 12.5%, pushing ICP to around $2.70. Within the first hour, the token's market cap increased by roughly $109.6 million, reaching about $1.48 billion. Daily trading volume surged past $140 million, reflecting strong interest from Korean traders.
To stabilize early trading, Upbit imposed temporary restrictions: buy orders were limited for the first 5 minutes; sell orders below 10% of the previous day's closing price were initially restricted; only limit orders were allowed during the first two hours. The previous day's closing price stood at 3,707 KRW.
Internet Computer Project: Key Features
Developed by the DFINITY Foundation, Internet Computer is a decentralized cloud computing platform that enables developers to run full web applications directly on-chain, bypassing centralized servers. Technical highlights include: subnet architecture for scaling, throughput of 1,000–8,000+ TPS, finality within 1–2 seconds, WebAssembly-based canisters, and a reverse gas model where developers cover compute costs. The ICP token powers governance, pays for computation via “cycles,” and supports network operations. Total supply is 549.45 million tokens, with circulating supply varying due to governance locks and token burns.
Price Outlook After Listing
ICP currently ranks around #47 on CoinMarketCap with a market cap exceeding $1.5 billion, still far below its 2021 all-time high of over $700. Analysts note that exchange listings often bring short-term volatility and liquidity spikes, especially on major platforms like Upbit. The “Mission 70” governance proposal, aiming to cut new coin creation by ~70% by 2026, could support price movement. If momentum continues and ICP breaks above $2.70, a move toward the $3–$5 range is possible, but sustained growth hinges on ecosystem adoption and broader market conditions.