Upbit Announces New Digital Asset Trading Support for UXLINK

Upbit Global Offering Expansion Plan

Upbit Exchange, renowned for its global reputation as a leading digital asset exchange, has announced the addition of a new digital asset to its trading platform. Starting September 3rd, Upbit will support trading for UXLINK token (UXLINK), a digital asset that facilitates transactions and governance within a Web3 social platform.

UXLINK aims to address the limitations of traditional social platforms by offering a Web3 solution that emphasizes user control and privacy.

Trading Details and Schedule

The UXLINK coin will be available for trading on three markets: Korean Won (KRW), Bitcoin (BTC), and Tether (USDT). It will be supported on the Arbitrum One network. Deposits and withdrawals for UXLINK will begin within two hours from the time of the announcement, with transactions scheduled to commence at 22:00 on September 3rd.

For the initial 24 hours after the deposit and withdrawal functionality is enabled, Upbit is waiving all fees associated with UXLINK transactions. After this period, standard fees will apply.

Trading Restrictions

To ensure market stability, several restrictions will be in place following the commencement of trading:

• Buy Limit: Buy orders will be restricted for approximately 5 minutes after trading begins.

• Minimum Sell Price: Sell orders priced below 90% of the previous day’s closing price will be restricted for around 5 minutes after trading starts.

• Market and Reservation Orders: Both market and reservation orders will face restrictions for approximately 1 hour after trading support begins.

As of September 3rd at 19:00, UXLINK’s previous day’s closing price was 203.28 KRW. The recent price is 199.89 KRW, with corresponding values in BTC and USDT also provided.

Deposit Guidelines

Depositors are advised to use only the Arbitrum One network for UXLINK transactions. Deposits through other networks will not be supported. Additionally, only personal wallet addresses that have completed ownership verification will be accepted. 

Depositors using exchanges not listed as eligible for deposits and withdrawals may experience delays in deposit reflections. Large deposits from unclear sources may require proof of origin, as per Upbit’s Terms of Use. 

Conclusion

Upbit's addition of UXLINK to its platform marks a significant step in integrating Web3 solutions into digital asset trading. By emphasizing user control and privacy, UXLINK aims to revolutionize social platforms. With initial fee waivers and trading restrictions, Upbit Exchange ensures a smooth and stable launch for this new asset.

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