Upbit, one of South Korea’s leading cryptocurrency exchanges, announced its plans to list MINA, an important altcoin in the cryptocurrency world, in a recent announcement. However, with this exciting development, Upbit has announced a number of restrictions and specific details regarding the listing of MINA. Meanwhile, listing news came from several other exchanges. Here are the details…
MINA is listed on Upbit
One notable aspect of this listing is that MINA will only support deposits via the Mina network. Deposits will not be possible through other networks such as Binance Smart Chain (BSC). This decision underlines Upbit’s commitment to providing a streamlined trading experience for its users. For investors looking to get their hands on MINA, it is crucial to be aware of the trading restrictions imposed by Upbit. Initially, buy orders will be restricted for the first five minutes following the addition of this new crypto asset. This short period aims to prevent sudden market fluctuations and allows for a smoother trading transition.
Meanwhile, Upbit also plans to protect the market against excessive price fluctuations by restricting sell orders below 10 percent of the previous day’s closing price, which was 615 KRW on the Upbit BTC market. For the first hour or so after the new crypto asset is added, market orders and reserve orders will be subject to restrictions. These restrictions are intended to ensure a stable market environment during the initial trading period, which is often characterized by high activity and price fluctuations.
Mina’s purpose in the market
MINA is a blockchain designed to maintain a fixed block size regardless of increasing usage. What makes MINA unique is its ability to create blocks by verifying only compressed zk-SNARK proofs of the entire transaction record. This announcement marks a significant development in the world of cryptocurrency trading as Upbit adopts MINA while introducing special measures to ensure a smooth and controlled trading experience. Investors interested in MINA will need to adapt to these initial restrictions in order to navigate the exciting yet turbulent world of cryptocurrency trading.
Listing announcement has been made for 2 more altcoins
In addition to Upbit, other exchanges are also taking steps to expand their offerings, such as KuCoin and Seedify.fund, which are preparing to list Openfabric AI with the OFN/USDT pair. Meanwhile, Bitbank added BNB to its list of supported cryptocurrencies, contributing to the ever-evolving cryptocurrency market environment. As these developments continue to occur, cryptocurrency enthusiasts follow these news.
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