South Korea’s leading crypto exchange Upbit is expanding its USDT trading market. The exchange, which announced that it will list 12 new altcoin projects, offers its users a wide range of investments with this new list, including popular assets such as Adventure Gold (AGLD), MultiverseX (EGLD), Filecoin (FIL), and Near Protocol (NEAR). It is stated that transaction support will start at 16:30 on November 13, 2024. Here are all the details…
South Korea-based Upbit is listing new altcoin
South Korea’s leading crypto exchange Upbit will expand its USDT trading market by listing 12 new crypto tokens, including Adventure Gold (AGLD), MultiverseX (EGLD), Filecoin (FIL), Lumiwave (LWA), Near Protocol (NEAR), Stellar Lumens (XLM), and others. Trading for these assets is scheduled to begin at 16:30 KST, i.e. 10:30 Turkish time. Other listed cryptocurrencies include Ahatoken (AHT), Alpha (ARPA), ASTR, Bancor (BNT), Orchid (OXT), and RADWORKS (RAD). These assets will be accessible on various networks including Ethereum, Luniverse, Astar Network, MultiverseX, Filecoin, Sui, NEAR Protocol, and Stellar Network.
According to the official announcement, Upbit has introduced some trading restrictions in order to ensure market stability and prevent price manipulation. These restrictions include:
- Buy orders will be restricted for approximately the first 5 minutes after trading support begins.
- Sell orders below 90% of the previous day’s closing price will be restricted for the first 5 minutes.
- Only limit orders will be allowed for the first hour, while other order types will be restricted during this time.
What will the prices of the listed altcoins be like?
Upbit provides the previous day’s closing prices for each newly listed crypto asset in KRW, BTC, and USDT in its official statement. The previous day’s closing price for Adventure Gold (AGLD) was 0.000015 BTC, 1.875 KRW, or 1.3185 USDT. The previous day’s closing price for Filecoin (FIL) was 0.00004823 BTC, 6.027 KRW, or 4.23 USDT. The closing price for Near Protocol (NEAR) was 7.600 KRW, or 5.34 USDT. The closing price for Bancor (BNT) was 0.00000685 BTC, 856 KRW, or 0.6019 USDT. The full list is as follows…
Upbit warns users to perform network verification before depositing assets. Transactions made on unsupported networks may result in delays and non-refundable deposits. Upbit also reported that only verified personal wallet addresses are allowed to deposit/withdraw funds. For large investments with unknown sources, Upbit may request proof of funds. As a result, Upbit’s altcoin listing was an important step for the market. Supporting 12 altcoins at the same time attracts users’ attention.
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