Upbit, South Korea’s largest cryptocurrency exchange, is set to launch trading for the KAITO token. Trading pairs will be available in Korean Won (KRW), Bitcoin (BTC), and Tether (USDT), with trading scheduled to begin at 3:00 PM (KST) on March 5th.
Upbit Allows KAITO Trading From Today
Market Support KAITO(KAITO)
✅ Supported Markets: KRW, BTC, USDT Market
📅 Trading opens at: 2025-03-05 15:00 KST estimated🔗Discover more:https://t.co/uDlqBGxCXv#Upbit #KAITO@KaitoAI pic.twitter.com/M4LHUoDygA
— Upbit Korea (@Official_Upbit) March 5, 2025
According to the official statement, Upbit will provide additional details regarding the exact timing of transaction support once sufficient liquidity is secured on the platform. Deposits and withdrawals for KAITO will be facilitated exclusively through the Base network. The crypto exchange has advised users to confirm the network before making any deposits, as transactions made through unsupported networks will not be processed.
Upbit has informed users that as of 11:40 AM(KST) on March 5th, the price of KAITO has decreased from its previous day’s closing price of 2,264.68 KRW to 2,163.08 KRW. In terms of Bitcoin, it has dropped from 0.00001844 BTC to 0.00001702 BTC, and in USDT, it has fallen from 1.55 USDT to 1.48 USDT.
As part of Upbit’s standard process, certain trading restrictions will be implemented for KAITO to ensure a secure and smooth market operation:
- Buy Orders: These will be restricted for the first 5 minutes after trading begins.
- Minimum Selling Price: The minimum selling price for KAITO will be limited, with specific details provided ahead of the launch.
- Order Types: Only limit orders will be supported during the first hour after trading begins. Other order types will be restricted.
Note that deposits and withdrawals for KAITO will only be supported through the specified Base network (KAITO-Base). Deposits from exchanges that are not listed among Upbit’s approved virtual asset business operators will not be reflected in users’ account and may take extended periods to process.
Following the announcement, Kaito experienced a surge and is now trading at $1.83, reflecting a growth of 17.76% in the past 24 hours. The project’s market volume has reached $444.51 million, with the 24-hour market volume rising by 29% to $620.23 million.
Also Read: Upbit to Launch Trading for Solayer ($LAYER) for KRW, BTC, USDT Pairs Today
Credit: Source link
