South Korea’s Largest Crypto Exchange, Upbit, to Enable ASTR Trading
Upbit, South Korea’s biggest cryptocurrency exchange, will soon allow trading of ASTR, the utility token of the Astar Network. The trading pair of Won-ASTR will be available from 6 PM local time on December 18. To ensure a safe trading environment, Upbit will implement certain restrictions during the initial phase.
During the initial period, only deposits directly from the Astar Network will be allowed. Buy orders will also be limited in the first five minutes. Moreover, sell orders will be restricted to prices 10% below the previous close or lower. Market price and pre-orders will face restrictions during the early hours as well.
The Addition of ASTR to Upbit
The addition of ASTR to Upbit comes after several major upgrades by the Astar Network. In June, it revealed its “Astar 2.0 Vision” that outlined its long-term plans for tokenomics development, structural organization, and technological framework building.
Astar Network’s Goal
Astar Network aims to achieve blockchain breakthroughs through innovation and promote greater adoption of Web3. To support this objective, it partnered with NTT Digital in July to establish a Web3 training program with the aim of improving network infrastructure.
ASTR Price Analysis
Upon the announcement of trading on Upbit starting on December 18, ASTR experienced a significant surge in value, reaching approximately $0.14—an increase of 70%. However, it soon entered a steep decline and fell to around $0.12.
Currently, ASTR appears to have stabilized and is trading at $0.117, showing a 45.85% increase in the last 24 hours.
Despite the recent surge, ASTR has exhibited significant volatility over the past year, with a total increase of 190.23% during that period. In the last week, it has traded relatively sideways but experienced a 50.69% increase due to the spike on December 18. Over the past month, ASTR has steadily risen by 83.94%.
Hot Take: Upbit’s Addition of ASTR Enhances Trading Opportunities
The inclusion of ASTR in Upbit’s trading platform presents an exciting opportunity for crypto enthusiasts. As South Korea’s largest exchange, Upbit offers a reliable and secure environment for trading. With ASTR’s recent price surge and its potential for further growth, investors can capitalize on its volatility and make profitable trades. Additionally, ASTR’s partnership with NTT Digital showcases its commitment to advancing blockchain technology and promoting Web3 adoption. This collaboration could lead to innovative developments within the network, further increasing the value of ASTR in the long run.
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