While most of the cryptocurrency market saw steep declines on January 17, 2018, the UTRUST (UTK) token defied the trend with a massive price surge. The digital payment token jumped over 42%, catching the attention of investors. This rally was largely fueled by news of upcoming listings on major exchanges like Huobi Pro and OKEX, signaling growing confidence in the project’s vision to transform online payments with cryptocurrency.
A Green Outlier in a Sea of Red
The period of January 16-17 was marked by a significant downturn across the crypto market, with nearly all top coins experiencing sharp price drops. In this bearish environment, only a few digital assets managed to stay in the green.
UTRUST was a standout performer during this market-wide crash. The UTK token recorded an impressive price increase of 42.63% on January 17th alone. This move against the prevailing market trend highlighted strong underlying support and positive sentiment for the project, making it one of the few bright spots for crypto traders on an otherwise difficult day.
New Exchange Listings Fuel the Rally
A primary driver behind UTK’s significant price jump was the announcement of new listings on prominent cryptocurrency exchanges. This kind of news often acts as a powerful catalyst for a token’s value, as it increases accessibility, liquidity, and trading volume.
The popular exchange Huobi Pro announced it would list UTK on January 17, with trading set to begin the following day. Adding to the momentum, it was revealed that OKEX.com would also begin trading UTK soon. These developments significantly boosted investor confidence, leading to a surge in buying pressure.
Understanding the UTRUST Vision
UTRUST is a project with a clear goal: to create the next generation of online payment platforms. It is designed to allow users to purchase goods and services using their favorite cryptocurrencies while offering protections similar to traditional payment systems.
The platform focuses on solving key issues in the crypto payment space by offering a unique set of features. The team’s vision, outlined in their whitepaper, has been a key factor in attracting early support and partnerships. Some of the core features of the UTRUST system include:
- Lower Buyer Purchase Risk: Offering protection to consumers.
- No Chargebacks: Protecting merchants from fraudulent refund claims.
- Safety of Funds: Ensuring user funds are secure.
- Low Fees: Offering competitive transaction fees for both buyers and sellers.
This approach is designed to make crypto payments a more viable and trusted option for everyday e-commerce.
Where to Buy and Trade UTK
Despite its recent launch to the public at the end of December 2017, UTRUST has quickly expanded its availability. The token’s market cap has already surpassed the US$100 million mark.
Currently, traders can buy and sell UTRUST (UTK) on the HitBTC and KuCoin exchanges. KuCoin began offering UTK/BTC and UTK/ETH trading pairs on December 29, 2017. With the upcoming listings on Huobi Pro and OKEX, the token is poised for even greater exposure to the global crypto market.
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