As an analyst with years of experience in the crypto market, I find Upbit’s move to expand its USDT market by adding 12 new tokens quite intriguing. The sudden surge in AGLD‘s price after its launch is reminiscent of the wild west days of Bitcoin, where a coin could skyrocket overnight based on hype and speculation.
The South Korean cryptocurrency platform, Upbit, is broadening its USDT market by incorporating 12 fresh digital tokens into its offerings. One of these new additions has experienced a significant surge in value, nearing a 300% increase since its debut.
As per Upbit’s announcement, several digital currencies, including Adventure Gold, MultiversX, Filecoin, Stellar Lumens, Lumiwave, and Near Protocol, will be integrated into the exchange’s USDT trading options in the near future.
One recently added cryptocurrency, Adventure Gold (AGLD), experienced a significant surge in its value, rising by an impressive 288% just eight minutes after being listed on Upbit, as per data from DEX Screener. Currently, AGLD is being exchanged at a price of $2.45. Over the past 24 hours, this token has seen a notable increase of approximately 64.64%.
Over the past listing period for the 11 new cryptocurrencies on Upbit, there hasn’t been significant growth in value as observed by data gathered from CoinGecko, before or following their launch.
12 additional cryptocurrencies such as Ahatoken, Alpha, ASTR, Bancor, Orchid, and RADWORKS have been integrated into Upbit’s USDT trading platform, commencing on Nov. 13 at 16:30 KST. These 12 digital tokens will now be accessible for trading in the exchange’s USDT market.
These resources are situated across several networks such as Ethereum, Luniverse, Astar Network, MultiversX (formerly known as Elrond), Filecoin, Sui, NEAR Protocol, and the Stellar network.
In simpler terms, AGLD serves as the native token within the Loot for Adventures NFT initiative, which generates 8,000 unique text-based fantasy items for adventurers and records them on the blockchain. Essentially, a Loot NFT functions like a virtual backpack filled with equipment. The AGLD token is utilized to manage decision-making processes within the ecosystem.
As per the recent announcement, Upbit is planning to restrict buy orders to approximately every five minutes after trading resumes. Additionally, sell prices will be capped at a decrease of no more than 10% compared to the closing price from the previous day, for a period of five minutes following trading support.
Upbit notified users that, aside from limit orders, all other types of orders will be temporarily restricted for an hour following the commencement of trading services.
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2024-11-13 13:46