- Upbit introduces EGLD-KRW and EGLD-BTC trading pairs
- Deposits to open within 3 hours after announcement
- Listing on Upbit may cause a surge in altcoins; caution advised
South Korea’s largest cryptocurrency exchange, Upbit, has announced the introduction of Elrond (EGLD) trading pairs with the Korean Won (KRW) and Bitcoin (BTC). Deposits for these new trading pairs will open within three hours of the announcement, offering traders more opportunities to invest in the growing altcoin market.
Listing on Upbit, known for its significant impact on altcoins, has historically led to a sharp increase in their value. As such, the introduction of EGLD trading pairs on the platform may trigger a surge in the altcoin’s value. However, users are urged to remain cautious and be aware of the potential risks associated with these volatile investments.
The addition of EGLD to Upbit’s trading pairs underscores the growing popularity of altcoins in the cryptocurrency market, as traders seek new opportunities and diversify their portfolios. This move by South Korea’s leading exchange is expected to attract further interest in the altcoin market and contribute to its overall growth.
South Korea has long been a hub for cryptocurrency trading, and the launch of EGLD trading pairs on Upbit is likely to draw even more attention to the sector. While the potential rewards may be enticing, users should always keep in mind the inherent risks associated with trading volatile cryptocurrencies, especially when entering new and uncharted markets.
