Upbit to List Ether.fi, Resolv, Initia, and Spark Tokens
, South Korea’s top cryptocurrency platform, is adding four new altcoins: Ether.fi (ETHFI), Resolv (RESOLV), Initia (INIT), and Spark (SPK). This smart move includes more tokens to the platform’s list of tradable tokens and changes the way the market works on its platform. At 3:00 p.m. Korea Standard Time, trading for these assets began. Users could already make deposits and withdrawals, and BTC and USDT trading pairs were available.
Trading Pairs and Network Support
You may trade each of the four tokens for and Tether (USDT), which are the two most popular trading pairs on Upbit. The ETH network will handle deposits and withdrawals for ETHFI, RESOLV, and SPK. This is because the network is widely used and has strong security features.
On the other hand, deposits and withdrawals of INIT must be done through the Initia network, which has its own unique blockchain architecture. Upbit has very strong rules. Only users with verified IDs can deposit these tokens, and large deposits require documentation of the source of the funds, which shows that the platform follows the rules set by the government.
Initial Trading Limits For Stability
Upbit has put temporary trading limits in place during the inaugural trading period to ensure that the market launch for these tokens is managed and steady. For roughly five minutes later than trading begins, people won’t be able to place purchase orders.
During this time, trade orders that are more than 10% below the closing price from the day before will also be limited. later than this, traders will only be able to place limit orders for the next two hours. These steps are used to control price fluctuations and stop price manipulation during the first phase of trade.
Market Reaction and Token Performance
As is familiar with new listings on Upbit, these tokens saw significant price changes soon following the release. Resolv was the best of the bunch, with a gain of more than 6% in 24 hours, showing that investors were quite interested.
Initia followed with gains of around 4.75%, and Spark exhibited a steady rise of almost 2.5%. Ether.fi, on the other hand, fell by 0.37% later than a brief surge. This kind of price volatility is typical because speculative momentum often rises when a stock is listed, but might fall back down hours later when the initial excitement dies down.
The Growth of Upbit’s ETH Ecosystem
The addition of Ether.fi, Resolv, Initia, and Spark tokens are part of Upbit’s larger goal to make its ETH ecosystem stronger. The platform had only recently added GIWA Chain, a new ETH network built on top of the Optimism OP Stack.
GIWA wants to improve blockchain performance by providing one-second block timings and full compatibility. This shows that Upbit intends to strengthen its blockchain infrastructure capabilities.
