blockchainreporter.net
In a significant development for the cryptocurrency market, Upbit, South Korea’s largest crypto trading platform, has officially listed the ASTR Korean Won trading pair. The announcement, made earlier today, has already sent shockwaves through the crypto community as Astar (ASTR) experiences a staggering surge of 40% in its value.
ASTR, the utility token of the Astar Network, boasts a diverse range of functionalities including dApp staking, NPoS staking, trading, on-chain management, and Layer 2. The listing on Upbit further enhances the liquidity and accessibility of ASTR, making it available for direct trading against the Korean Won.
Transactions on this new trading pair are set to commence at 19:00 local time today. As of the latest update, ASTR is valued at $0.1132, reflecting a remarkable 24-hour gain of 41.79%. This surge follows the anticipation and excitement surrounding the Upbit listing, highlighting the growing interest and demand for ASTR in the crypto market.
Upbit Unveils Exclusive KRW Trading Opportunities
Upbit issued a notice to its users, emphasizing that ASTR deposits are exclusively supported from the Astar Network. The platform clarified that deposits from other networks, such as BSC, cannot be accommodated. Additionally, the notice outlined certain deposit audits, in accordance with their terms of service, which may involve the analysis of fund flows. Users are advised to be patient during this process, as deposits may not be reflected until the audits are completed.
Traders eager to participate in ASTR trading on Upbit must be mindful of specific limitations outlined by the platform. The commencement of ASTR trading is scheduled for 19:00 KST on December 18, 2023, with an estimated start time. During the initial five minutes of trading, buy orders will be subject to limitations to ensure a controlled opening.
Furthermore, sell orders are restricted, as any orders lower than -10% of the closing price (108 KRW) of Upbit’s BTC market on the previous day will not be permitted. Additionally, Upbit has imposed restrictions on both market price orders and reservations for Buy/Sell orders, limiting their availability for approximately one hour after the commencement of market support. These measures aim to foster a stable and secure trading environment for ASTR on the Upbit platform.
Astar Network, a Japan-based Polkadot parachain smart contract platform, supports both EVM and WASM. Leveraging the Polkadot Relay Chain for block production validation, Astar Network operates with high speed and security, distinguishing itself in the crowded blockchain landscape. ASTR, as the native digital asset of Astar Network, serves various purposes, including paying transaction fees, participating in Collator staking, and acting as a medium of exchange.
The Upbit listing marks a crucial milestone for ASTR, opening new avenues for traders and investors to engage with this dynamic cryptocurrency in the vibrant South Korean market. The coming days will undoubtedly see increased activity and attention as the ASTR/KRW trading pair gains momentum on Upbit.