George Miller
Upbit, a top cryptocurrency exchange in South Korea, is set to include the Movement token (MOVE) to its trading options in KRW, BTC, and USDT markets. The initiation of trading and deposit functionalities will occur on December 9, 2024, beginning at 20:00 PM KST for deposits and 21:00 PM KST for trading (these times are subject to change).
신규 디지털 자산 무브먼트(MOVE) 거래지원 안내
지원 마켓: KRW, BTC, USDT 마켓
거래지원 개시 시점: 2024-12-09 21:00 예정공지 바로가기:https://t.co/ZvdFuAAtjW#Upbit #MOVE pic.twitter.com/EokasCE2wh
— Upbit Korea (@Official_Upbit) December 9, 2024
Listing Details for MOVE Tokens
Per the official announcement, the MOVE token will be available for trading in three pairs: KRW, BTC, and USDT. Transactions for MOVE will only be processed on the Ethereum network; deposits made via any other networks will result in non-refundable errors.
Initially, buy orders for MOVE will face a restriction lasting about five minutes after trading commences. The minimum sell price is set at $0.3325 USD (which translates to 464.5 KRW, 0.0000033 BTC, or 0.3325 USDT), representing a 30% decrease from the lowest over-the-counter price from the previous day. Additionally, only limit orders will be accepted for the first hour after trading starts.
Furthermore, Upbit has indicated that deposits made prior to the MOVE token appearing on CoinMarketCap or before trading begins may need to be verified according to the Travel Rule if they exceed 1 million KRW.
This launch signifies the first instance of global trading for the MOVE token, with Upbit committing to provide updates should there be any alterations to the schedule.
Movement operates as a Layer 2 solution on Ethereum supporting both MoveVM and EVM functionalities, with a total supply capped at 10 billion MOVE tokens.