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- Upbit, South Korea’s largest cryptocurrency exchange, has announced the listing of a new altcoin.
- In a market where Bitcoin (BTC) and Ethereum (ETH) transactions often trail behind altcoin volumes, Upbit will be listing Pendle (PENDLE).
- According to Upbit’s official announcement on August 6, PENDLE will be available for trading as of 12:00 PM KST.
Discover the latest developments in South Korea’s crypto market with the listing of Pendle on Upbit. Stay informed on altcoin trends and trading opportunities.
Upbit Adds Pendle to Its Trading Platform
Upbit, a prominent player in the South Korean cryptocurrency market, has expanded its portfolio by listing Pendle (PENDLE). The announcement was made on the exchange’s official website, revealing that trading for PENDLE would commence on August 6 at 12:00 PM KST. This move is in line with the exchange’s strategy to stay competitive by continually offering new and promising tokens to its user base.
PENDLE Trading Specifications on Upbit
The exchange has specified that PENDLE deposits will be accepted only via the Ethereum network. Upbit has expressly cautioned users against making transfers from other blockchains, as these would not be supported. With this listing, traders can engage in PENDLE/KRW and PENDLE/BTC trading pairs, providing them with multiple avenues for investment and trading within the platform.
Market Reaction and Performance of PENDLE
The listing news catalyzed a significant price surge in PENDLE. Data from CoinGecko indicated an initial price jump from $2.354 to $3.06, marking a staggering 29.9% increase. While the altcoin did witness a subsequent price correction, it stabilized at around $2.596. This immediate response underscores the high level of investor interest and confidence in PENDLE as it debuts on Upbit.
Conclusion
Upbit’s addition of Pendle to its exchange is a noteworthy development in the South Korean crypto market. By continuously listing new and promising tokens, the exchange not only attracts a broader user base but also enriches the trading environment. Investors should stay tuned to platforms like Upbit for such updates, which can offer lucrative trading opportunities.