Leading cryptocurrency exchanges in South Korea, Upbit and Bithumb, have announced new digital asset listings. Upbit has introduced the memecoin PEPE, while Bithumb has added Altair (ALT) and Swell Network (SWELL) to their KRW markets.
Upbit Adds PEPE
On November 14, 2024, Upbit launched the memecoin PEPE on its KRW market. As per their official announcement, trading began at 11:30 a.m. KST. To manage early trading volatility, Upbit has implemented measures such as a 5-minute buying limit at the start and restrictions on minimum sell prices for the same duration to prevent drastic drops in value.
During the first hour on Upbit, only limit orders are permitted. The platform has specified that deposits and withdrawals must be conducted via the Ethereum network. Users attempting to deposit from unsupported networks or unverified exchanges may experience delays or receive refunds due to strict regulatory guidelines.
Bithumb Lists ALT and SWELL
Conversely, Bithumb will be listing Altair (ALT) and Swell Network (SWELL) in its KRW market, with trading set to commence at 4:00 p.m. KST on November 14, priced at 151 KRW for ALT and 49.36 KRW for SWELL.
According to their official announcement, Bithumb has also taken steps to stabilize initial trading by restricting buy and sell orders for the first 5 minutes and implementing price caps to minimize drastic fluctuations from the base price. Similar to Upbit, both assets must be traded on the Ethereum network, with transactions from unsupported networks subject to possible delays.
Both platforms have advised users about the risks associated with trading digital assets and stressed the necessity of making informed choices.