South Korea’s leading cryptocurrency exchanges, Upbit and Bithumb have announced the listing of new digital assets- with Upbit adding PEPE, Bithumb adding Altair (ALT) and Swell Network (SWELL) on their KRW markets respectively.
Upbit lists PEPE
On November 14, 2024, Upbit added memecoin PEPE to its KRW market. As per the official statement, trading for PEPE, an Ethereum-based crypto, began at 11:30 a.m. KST. Upbit has implemented several restrictions to control early trading volatility, including a 5-minute buy limit following the start of trading and a minimum sell price restriction for 5 minutes to prevent significant price drops.
Courtesy: Upbit
On Upbit, only limit orders are allowed during the initial hour. Upbit emphasized that deposits and withdrawals are exclusively supported on the Ethereum network. Due to strict regulatory measures, users depositing funds from unsupported networks or unverified exchanges may face extended processing times or refunds on Upbit.
Bithumb lists ALT and SWELL
On the other hand, Bithumb will list Altair (ALT) and Swell Network (SWELL) on its KRW market today and trading will begin at 4:00 p.m. KST on November 14, with a base price of 151 KRW for ALT and 49.36 KRW for SWELL.
As per the official statement, Bithumb has put measures in place to stabilize initial trading: buy and sell orders are restricted for the first 5 minutes, and there are caps on sell prices to prevent significant deviations from the base price. Both assets are limited to the Ethereum network, and transactions involving unsupported networks could face delays or restrictions.
Both Upbit and Bithumb have cautioned users about the inherent risks in trading digital assets and emphasized the importance of informed decision-making.
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