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South Korean <a href="https://xpertsstudio.com/the-ripple-effect-of-cryptocurrency-exchange-listings/” title=”The Ripple Effect of Cryptocurrency Exchange Listings”>cryptocurrency exchange Upbit will add Bitcoin and Tether trading pairs for Biconomy, Bubblemaps, Nillion and ETHGas on Aug. 21.
The exchange originally scheduled the eight markets to open at 13:00 Korea Standard Time. Upbit updated its official notice at 12:50 KST and postponed trading until 16:00 KST, a three hour delay.
Upbit did not give a detailed reason for the change. It apologized for the inconvenience and retained the previously announced deposit networks and initial order restrictions.
The exchange warned that trading could face another delay if deposits and withdrawals fail to establish sufficient liquidity before the revised opening time.
Upbit listing covers eight new trading pairs
Each of the four tokens will receive one $BTC pair and one $USDT pair. Upbit did not announce Korean won markets for the assets.
BICO, NIL and $GWEI deposits must use Ethereum. BMT deposits must use Solana. Upbit will not process transfers made through unsupported networks, even when another version of the same token exists elsewhere.
The exchange provided contract addresses for each supported asset. Users should verify those addresses and the selected blockchain before transferring funds. Deposits sent through the wrong network may require a lengthy recovery process or may not be recoverable.
Upbit can also request evidence explaining the its Travel Rule requirements may not appear in customer accounts until additional checks are completed
The exchange has expanded its non won markets through several recent listing rounds. As crypto.news previously reported, Upbit added nine tokens across its $BTC and $USDT markets in June.
Initial orders will carry temporary restrictions
Upbit will restrict buy orders for approximately five minutes after trading begins. It will also block sell orders priced more than 10% below the reference closing price during that period.
Only limit orders will be accepted for roughly two hours after the markets open. Other order types and execution conditions will become available after Upbit removes the restriction.
These controls are intended to manage the limited liquidity and rapid price movements that can occur when a market first opens. They do not guarantee price stability or prevent traders from incurring losses.
Previous Upbit listings have produced mixed market reactions. Some tokens have recorded abrupt increases in price and volume, while others have traded lower despite gaining access to the exchange.
In related coverage, Venice Token declined despite receiving three new Upbit trading pairs. Any price movement in BICO, BMT, NIL or $GWEI would therefore require separate market data rather than being assumed from the listing announcement.
Four projects gain broader access to Upbit traders
Biconomy provides infrastructure designed to simplify blockchain transactions through account and chain abstraction. BICO supports governance and staking within its ecosystem.
Bubblemaps visualizes token distribution and links between blockchain addresses. Its BMT token supports platform use and incentives for community research through Intel Desk.
Nillion develops privacy focused computing services for storing data, running confidential computations and processing artificial intelligence workloads. NIL is used for network payments, node rewards and staking.
ETHGas is developing a market for Ethereum blockspace and transaction preconfirmations. Its system is designed to let validators sell future block capacity while traders and applications seek more predictable transaction execution. $GWEI supports governance and staking.
Upbit had opened deposits and withdrawals within two hours of publishing the original notice at 09:48 KST. The next confirmed event is the revised 16:00 KST trading launch, although the exchange’s liquidity condition leaves room for another postponement.
The exchange has changed listing times before. As previously reported, Upbit postponed another token launch before opening trading in May. Traders should rely on the latest exchange notice rather than the original schedule.
Source: cryptonews.net