News

APE/BTC Trading Pair Surges By 2000% Amid Upbit Suspend ERC Tokens

Key Points:

  • APE/BTC trading pair on Upbit experienced a sharp rise due to the suspension of ERC Token deposits and withdrawals for the Shanghai upgrade.
  • Upbit urged investors to be cautious when investing in ETH and ERC-type digital assets during the network upgrade.
  • Once the network upgrade is complete, the exchange will resume deposit and withdrawal services for ETH and ERC-type digital assets.
The APE/BTC trading pair on Upbit had a sharp rise due to the suspension of ERC Token deposit and withdrawal for the Shanghai upgrade.

On April 12, 2023, the APE/BTC trading pair on Upbit, South Korea’s largest exchange, experienced a sharp rise at around 17:15 UTC+8, reaching a maximum of 0.003 BTC (about $90), before settling at around 0.0011 BTC (about $33). Currently, there is still a 7x premium on this trading pair.

The sudden price increase may be due to Upbit’s suspension of ERC Token deposits and withdrawals due to the Shanghai upgrade. Upbit announced on April 12, 2023, urging investors to be careful when investing in ETH and ERC-type digital assets due to suspending deposits and withdrawing these assets during the network upgrade. The suspension has caused rapid changes in digital asset market prices, and there may be a market price gap compared to other exchanges.

As soon as the network upgrade is completed, deposit and withdrawal services for ETH and ERC-type digital assets will resume. However, there is a possibility that market prices will change rapidly at the time of resumption of deposit and withdrawal, so investors are urged to pay special attention to their transactions.

It is important to note that Upbit is considered the most trusted global standard digital asset exchange. Once the network upgrade is complete, the exchange will resume deposit and withdrawal services for ETH and ERC-type digital assets. Investors are advised to be cautious and closely monitor market changes during this time.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Thana

Coincu News

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.

Recent Posts

Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance

George Town, Grand Cayman, 22nd November 2024, Chainwire

15 minutes ago

Inflation Warning By Vanguard Amid Tariffs And Labor Issues

Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…

31 minutes ago

Clanker Token Trading Volume Hits $59.8 Million High On November 21

Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…

59 minutes ago

Bitcoin Spot ETF Inflows Hit $1 Billion Led By BlackRock

Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…

1 hour ago

New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot

Discover the success story of a New York tech entrepreneur who made $72M from a…

2 hours ago

Best Altcoins to Buy Today: Qubetics Rides 1000x Potential to Hit $2.6M, Ethereum Stays Rangebound, Tron USDT Transactions Hit $52B

Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…

4 hours ago

This website uses cookies.