Official Announcement from Upbit

Upbit stated in its announcement:

“The listing of Bio Protocol in the KRW market will allow our users to securely access a wider range of digital assets. As Upbit, we will continue to provide a transparent and reliable trading environment.”

Exchange officials noted that BIO’s innovative infrastructure and expanding ecosystem could create long-term opportunities for investors.

What Is BIO Protocol (BIO)?

BIO Protocol (BIO), through the BioDAO network, enables scientists, patients, and investors to jointly fund, develop, and own medicines and treatments. Recently, Binance Labs announced its investment in BIO Protocol, a pioneering project transforming how early-stage scientific research is funded and commercialized using blockchain technology. This marks Binance Labs’ first entry into the Decentralized Science (DeSci) sector, signaling optimism for the industry’s future.

BIO Price Surges Following Listing News

After the announcement, BIO’s price quickly entered an upward trend. On-chain data shows that trading volume multiplied shortly after the listing news. Market analysts point out that Upbit listings often trigger high volatility and strong demand during the first hours of trading.

“Tokens listed on Upbit usually receive strong support from the Asian market. A similar price reaction is being seen with BIO.”
— CryptoQuant Asia Analyst

A New Wave of Excitement Hits the Market with BIO Listing

Set to begin trading on Upbit’s Spot KRW market, BIO has become one of the most notable listings of the week. The price surge and strong investor interest have quickly pushed BIO to the forefront of the market’s attention in the short term. According to experts, trading volume and price movements in the coming days will be key factors in determining BIO’s short-term trend.

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Ethena (ENA) Rises Amid Buyback Program

Ethena (ENA) price surged 30% in August while exchange reserves dropped by 150 million ENA. This decline coincided with Ethena Foundation’s $260 million buyback program, which purchases around 5 million ENA daily. 

Ethena’s revenue exceeded $500 million, and the USDe supply reached a record level. These developments strengthen investor confidence, making long-term holding more attractive. 

BIO Protocol and Demand Driven by Staking

BIO Protocol, a prominent project in the DeSci sector, rose 265% in August. During this period, exchange reserves fell from 380 million BIO to 294 million BIO, a significant 22% drop. In the third week, investors withdrew 42 million BIO in just one week. 

BIO’s staking program accumulated 25 million tokens, and Arthur Hayes’ $1 million investment drew attention to the project. Additionally, the BioXP reward system encourages users to promote the project on social media, further boosting interest and accumulation. 

API3 and Momentum in the Oracle Sector

API3 rose 130% in August, and exchange reserves fell to their lowest level of the year. In the third week, 9 million API3 tokens were withdrawn, bringing reserves down to 17.19 million. The Upbit listing contributed to this surge. 

The oracle sector in general attracted investor focus. Chainlink’s (LINK) rally highlighted similar projects. According to Artemis data, August was the best-performing period for oracle projects. API3 accumulation helped stabilize the price above $1.50. 

These three altcoins demonstrated a selective altcoin rally in August. Buyback programs, staking incentives, and listings were key factors driving investor interest. In summary, ENA, BIO, and API3 showed strong accumulation signals alongside declining exchange reserves. 

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This strategic move by Coinbase aims to increase market liquidity and provide opportunities for diversified investments in different digital assets. As Venice Token (VVV), Cookie DAO (COOKIE), and Bio Protocol (BIO) continue to gain popularity in the crypto world, this new perpetual futures market will offer investors more options and strategies.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

The perpetual futures markets will allow investors to take long and short positions, providing flexibility to create investment strategies based on market conditions. The launch of these new markets aims to further boost Coinbase‘s global trading volume and attract a variety of investor groups.

With this move, Coinbase is strengthening its position in the market and offering more opportunities for traders. Additionally, the new perpetual futures market will enhance the trading experience in the highly volatile cryptocurrency market.

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BIO Launch Details

The maximum token supply for Bio Protocol (BIO) is set at 3,320,000,000 BIO, which can be increased through network governance. The total genesis token supply is also 3,320,000,000 BIO. A total of 99,600,000 BIO, equivalent to 3% of the genesis supply, will be distributed as rewards through Binance Launchpool. Upon listing on Binance, the initial circulating supply will be 1,296,529,168 BIO, representing 39.05% of the genesis supply.

Farming Period and Rewards

The farming period will run from December 24, 2024, to January 2, 2025. The total daily reward amount is set at 9,960,000 BIO, with 85% allocated to the BNB pool (8,466,000 BIO) and 15% to the FDUSD pool (1,494,000 BIO). Users can claim their rewards, which are calculated hourly, directly into their spot accounts.

BIO Token Listing and Trading Pairs

The BIO token will be listed on Binance on January 3, 2025, at 10:00 (UTC). Trading will be available for the following pairs: BIO/USDT, BIO/BNB, BIO/FDUSD, and BIO/TRY. Additionally, the Seed Tag label will be applied to the BIO token.

Users can participate in the farming event by locking BNB and FDUSD in the respective pools. However, the same tokens cannot be locked in multiple pools simultaneously. At the end of the farming period, any locked tokens and unclaimed rewards will be automatically transferred to users’ spot accounts. Due to local regulations, users in certain countries, such as Australia, Canada, the United States, North Korea, and Iran, will not be eligible to participate.

The APY and total pool balance for each pool will be updated in real time. Binance reserves the right to disqualify participants engaging in fraudulent activities. Additionally, users must complete KYC verification to participate in the Launchpool.

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