KERNEL Soars 25% Following Upbit's KRW Market Launch – What’s Behind the Buzz?

The price of KernelDAO's (KERNEL) token has surged significantly after Upbit announced its availability in the Korean market.

When popular exchanges like Upbit, Binance, or Coinbase announce listings, it often leads to bullish momentum for associated altcoins.

Upbit to List KERNEL: Essential Details

Upbit has declared that it will list the KERNEL token from KernelDAO on Tuesday, with trading set to begin on October 28 at 16:30 KST. Following the announcement, the price of KERNEL rose by over 23%.

KERNEL Price Performance. Source: TradingView

In its announcement, Upbit advised users to verify the network before depositing their digital assets. They stated, “Deposits or withdrawals made through networks other than the listed one will not be supported. If sufficient liquidity is not secured following this notice, trading may be delayed.”

Additionally, Upbit, which is the leading Korean exchange by trading volume, noted that the trading limit price would be based on the price from the Upbit BTC market. The prior closing price for KERNEL in the BTC market was 0.00000144 BTC, roughly equating to 243.3 KRW. Traders should also be aware of further details provided in the announcement.

KERNEL adds to the series of listings by Upbit in October, following the Synfutures (F) token and the Clearpool (CPOOL) token last week. As previously reported by BeInCrypto, the F token saw a 120% increase, while CPOOL jumped over 91%. This suggests that KERNEL could be poised for further growth as the listing introduces more liquidity and potential demand.

Upbit. Enhanced liquidity. More targets.
— The Villain (🔟/🔟) (@VillianTEN)

Similar surges following exchange listings have been seen with altcoins like RESOLV, which experienced a remarkable 460% increase after its own listing announcement. A Coinbase listing in late September also led to significant gains for Centrifuge (CFG) and TROLL.

However, while such developments capture the attention of early investors, traders should remain cautious about getting caught off guard by exit liquidity. This commonly occurs when investors take profits quickly, exemplifying the buy-the-rumor-sell-the-news dynamic.

The Future of Restaking

KernelDAO operates as a pioneering restaking infrastructure project. It provides services such as restaking on the BNB Chain, including support for BNB Liquid Restaking Tokens (LRTs) and opportunities for BTC restaking.

Moreover, it has established an Ethereum restaking protocol that functions on the Ethereum blockchain and a vault-style smart contract that manages staked ETH, rsETH, and LST assets. KERNEL tokens serve vital roles in governance, restaking, and slashing insurance functions.

$KERNEL holders enjoy various benefits, including:

Governance rights across KernelDAO’s protocols
Staking opportunities to enhance influence and yield
Participation in revenue from protocol-generated returns
Early access to new DeFi products and vaults

#KernelDAO pic.twitter.com/e3gKGy5BlI
— she's Arsenal🏌️ (@_Shes1)

The growing interest in KernelDAO stems from its capacity to offer multiple services through a unified governance token. This approach simplifies user interaction by consolidating services into a single ecosystem instead of requiring management across different protocols.

Key Takeaways

KernelDAO's KERNEL token price surged over 25% after Upbit announced its listing.
Trading for KERNEL is set to begin on October 28, with specific guidelines for deposits and withdrawals.
The token benefits from being among several recent listings, which enhance liquidity and demand.
KernelDAO is a restaking infrastructure project with tools for governance, staking, and revenue participation.
Investors are attracted to KERNEL’s integrated ecosystem that simplifies participation across different protocols.