South Korea’s crypto market is buzzing! Upbit, the nation’s leading exchange, just announced the listing of ASTR, the native token of the Astar Network. This move has already sent ripples through the market, causing a significant price jump for ASTR. Let’s dive into the details of this exciting development and what it means for traders and investors.
Upbit Lists ASTR: What You Need to Know
Upbit officially announced the listing of ASTR, offering support for the ASTR/KRW trading pair. Here’s a quick rundown of the key points:
- Listing Announcement: Upbit made the announcement via their official channels, confirming the addition of ASTR to their trading platform.
- Trading Pair: The exchange will support the ASTR/KRW pair, allowing users to trade ASTR against the South Korean Won.
- Deposit Details: Upbit specified that only Astar Network deposits will be supported.
- Trading Start Time: Trading was scheduled to commence on December 18, 2023, at 18:00 (Korean Standard Time).
- Initial Restrictions: Buy orders were restricted for the first 5 minutes of trading, and sell orders were initially limited to prices below -10% of the previous day’s closing price on CoinMarketCap (108 KRW).
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Price Surge and Market Reaction
As expected, the Upbit announcement triggered a notable surge in ASTR’s price. The token experienced a rapid increase, climbing as high as $0.23, representing a 200% increase. While the price has since corrected, ASTR continues to trade with significant volatility.
Here’s a look at ASTR’s price movement following the announcement:
- Initial Surge: ASTR price jumped by up to 200% following the Upbit listing announcement.
- Price Correction: After the initial surge, the price retraced, giving back a significant portion of the gains.
- Current Trading Price: As of the time of writing, ASTR is trading around $0.100307, reflecting a 45% increase. Check live trading.
What is Astar Network?
Astar Network is a multi-chain smart contract platform on Polkadot supporting both WASM and EVM. It enables developers to build decentralized applications (dApps) with interoperability across different blockchains. Astar aims to be a platform for innovation and empowers developers by providing them with the tools and infrastructure needed to create next-generation dApps.
Why is this Listing Significant?
Listing on a major exchange like Upbit provides increased liquidity and accessibility for ASTR. This can lead to greater adoption and awareness of the Astar Network project. South Korea is a significant market for cryptocurrencies, and Upbit is one of the most influential exchanges in the country. Therefore, this listing is a major milestone for Astar Network.
Final Thoughts
The Upbit listing marks a significant step forward for Astar Network and its native token, ASTR. The increased visibility and accessibility provided by this listing could contribute to the long-term growth and success of the project. Keep an eye on ASTR’s price action and the developments within the Astar Network ecosystem.
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.