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Revitalizing Altcoin: ASTR Joins Upbit's Trading Portfolio
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A New Addition to Upbit
In a notable development, Upbit, a leading cryptocurrency exchange in South Korea, has announced the inclusion of ASTR, an altcoin, to its trading platform. The exchange now facilitates the ASTR/KRW trading pair, a move aimed at diversifying its digital asset offerings.
ASTR's Trading Parameters Set
Upbit, in its statement, has clarified specific trading conditions for ASTR. The exchange will initiate support for the ASTR/KRW trading pair. Interestingly, ASTR transactions will only be enabled on the Astar network. The commencement of transaction support is scheduled for 18 December 2023, at 18:00. The exchange has imposed a unique regulatory measure: for the initial five minutes after a new digital asset is added, buy orders are restricted. Furthermore, sell orders for ASTR are capped at prices not exceeding 10% below the previous day's closing price on Coin Market Cap, which was 108 KRW.
ASTR's Market Response
The announcement has significantly influenced ASTR's market performance. Originally also listed on Binance, ASTR's value skyrocketed by up to 200%, reaching a peak of $0.23 post-Upbit's announcement. However, the altcoin saw a retracement in its gains and is currently trading at $0.11, marking a 45% increase.
While this development indicates a positive trend for ASTR, it's essential to approach such market movements with cautious optimism, considering the inherent volatility of the cryptocurrency market.
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