The listing of Pearl (PRL), which had been scheduled to see transactions on the domestic virtual asset exchange Upbit, has been postponed. Upbit said, "An issue related to circulating supply has been identified, and we have requested an explanation from the project."
According to the virtual asset industry on the 27th, Upbit announced the postponement of Pearl's listing at about 5:25 p.m. It happened just minutes before 5:30 p.m., when transaction support was set to begin.
Upbit said, "We have decided to postpone the start of transaction support until verification of the issue related to circulating supply is completed. We ask for your understanding, as this is a measure to provide a safer transaction environment."
Earlier, at around 3:30 p.m. the same day, news broke that Pearl would be listed on Upbit and Bithumb. According to the global coin market tracking site CoinMarketCap, Pearl had been trading around $0.2171 until about 3 p.m., but by about 3:45 p.m., after the listing news came out, the price surged more than 60% to as high as $0.3528.
Pearl is a data infrastructure platform that generates and verifies data needed for artificial intelligence (AI) training based on human experts and records it on-chain. It has a structure that breaks down the data demand of corporations and research institutions into segmented task units, which verified participants then carry out.