Treehouse (TREE) Surges 87% Following Upbit Listing

TREE, the utility token of the Treehouse ecosystem, has posted significant gains over the past 24 hours. The token rallied to a double-digit profit, surging over 90% to $0.594 earlier today.

Meanwhile, data from CoinGecko indicates that the token has relinquished a substantial portion of its previously posted gains. At the time of writing, TREE is 27% down from its earlier highs, trading at $0.4288.

Notably, the price surge follows the official listing of the TREE token on South Korea’s leading cryptocurrency exchange, Upbit. 

Upbit List Treehouse (TREE) 

On Thursday, Upbit announced the listing of TREE, marking a significant step in expanding its digital asset offerings. The announcement shared on X highlights that trading support for the utility token will commence at 16:00 KST. Meanwhile, at the time of writing, the token is currently trading on Upbit.

The exchange listed the token under three trading pairs, including KRW, BTC, and USDT. Meanwhile, deposits and withdrawals commenced 90 minutes after the announcement and will require ownership-verified personal wallets to comply with the Travel Rule.

With the token operating exclusively on the Ethereum network, Upbit has provided its users with the TREE’s contact address (“0x7714”). The essence is to ensure that its users validate TREE’s contact address and network before any deposits or withdrawals of the token. 

Following its listing, Upbit limited sell orders priced at more than 10% below the previous day’s close. Additionally, it restricted all types of orders except limit orders for nearly two hours after trading support began to prevent wild price fluctuations and market manipulation.

Furthermore, Upbit warns that deposits from unlisted exchanges or unsupported networks may witness delays or refunds, while large deposits may require additional proof of funds to release assets.

Upbit Listing a Game Changer for TREE

Upbit’s listing of TREE has sparked significant interest, given the exchange’s prominent position in South Korea’s crypto market. With a large user base and high trading volumes, it’s a no-brainer that the exchange endorsement can increase TREE’s liquidity and visibility. 

Historically, Upbit’s listings have often yielded notable price surges, making this development a potential catalyst for the token’s growth. With the recent price uptick, TREE is over 90% above its all-time low.

Moreover, recent market activities highlight that investors are increasingly confident in the utility token. For context, TREE’s trading volume stands at approximately $328.9 million, representing a 1,100% increase over the past 24 hours. 

What is Treehouse (TREE)

Treehouse is a decentralized fixed-income protocol built on the Ethereum network. It is designed to optimize returns for users through strategic asset management. 

Interestingly, users can deposit assets like tETH to receive tAssets, which enable participation in Vault strategies operated by smart contracts. For the uninitiated, tETH and tAssets refer to a liquid staking token that optimizes yields through arbitrage in interest rate differences across Treehouse protocol’s ecosystem.

Meanwhile, these strategies leverage the Dynamic Optimal Rate (DOR), calculated from panelist predictions, to maximize profits. On the other hand, its utility token, TREE, serves multiple purposes, including governance, reward distribution, query fee payments, and participation in predictive models. 

In addition to the Upbit listing, it is worth noting that notable cryptocurrency exchanges, such as Binance and Bithumb, have also listed the TREE token. Its protocol’s innovative DeFi approach positions it as a compelling investment, though its volatility underscores the need for cautious trading. 

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