Bitcoin Exchange Upbit Announces New Listing! Here Are the Details
Upbit, South Korea's leading digital asset exchange, announced support for trading the altcoin Intuition (TRUST) in KRW, BTC, and USDT markets starting at 8:00 PM. Deposits and withdrawals will be supported via the Base network. Initial liquidity measures include restrictions on sell orders below specified minimum prices for the first five minutes of trading and only accepting limit orders for the first two hours. TRUST is an InfoFi network focused on verifying information reliability on the blockchain using AI, data, and blockchain infrastructure. Transfers via networks other than Base may be delayed or invalidated.
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Upbit Announces Listing of Intuition (TRUST)
South Korea's leading digital asset exchange Upbit announced that it will provide trading support for the altcoin Intuition (TRUST) on the KRW, BTC, and USDT markets. Trading for TRUST will begin at 8:00 PM, and both deposits and withdrawals will be supported via the Base network.
Liquidity Preparation and Trading Conditions
Upbit declared that TRUST will undergo a preparation period to ensure sufficient liquidity at the start of trading. The trading start time may vary depending on market liquidity conditions. Additionally, the exchange stated that for the first 5 minutes after trading begins, sell orders 10% below the minimum price will be restricted to maintain market stability.
Minimum Sell Prices for TRUST
The minimum sell prices were announced as follows:
- KRW market: 714.56 KRW
- BTC market: 0.00000474 BTC
- USDT market: 0.4801 USDT
These price floors aim to regulate early trading behaviors and prevent excessive price volatility.
Temporary Order Restrictions
Following the start of trading support, Upbit specified that only limit orders will be accepted for approximately two hours. During this time, market orders and conditional orders will be temporarily disabled to ensure a smooth launch.
Deposit Restrictions and Compatibility
Upbit emphasized that TRUST can only be deposited via the Base network. Transfers made via different networks may result in delays or potential invalidation, underscoring the importance of using the correct network when making deposits.
Understanding Intuition (TRUST)
Intuition (TRUST) is described as an InfoFi (Information Finance) network focused on verifying the reliability of information on the blockchain and converting it into economic value. The project aims to create a trusted information economy by integrating AI, data, and blockchain infrastructure.
Disclaimer
This is not investment advice.