Upbit Now Supports STG Deposits On Ethereum Network In BTC Trading Pair

Key Points:

• Upbit supports deposits in BTC/STG trading pair only from the Ethereum network.
• The exchange will add new digital assets, including STG in the BTC market, on August 10, 2023.
• During the initial stage of transaction support, Upbit has implemented restrictions on orders to ensure a safe trading environment and accurate market information.

South Korea’s largest crypto exchange, Upbit, announced that it will only support deposits from the Ethereum network in the BTC/STG trading pair. STG is the native token of the cross-chain project Stargate Finance.

Upbit, South Korea’s largest crypto exchange, has announced that it will only support deposits from the Ethereum network in the BTC/STG trading pair. STG is the native token of the cross-chain project Stargate Finance.

The exchange will add new digital assets on August 10, 2023, including STG in the BTC market. STG deposit support will open within three hours of posting the notice but only supports deposits from the Ethereum network.

Upbit has implemented restrictions on orders after adding a new digital asset to the BTC market to ensure a safe trading environment and accurate market information.

During the initial stage of transaction support, purchase orders will be limited for about five minutes. Sell orders for STG will be limited to -10% or less of the previous day’s closing price on CoinMarketCap. Market price and pre-orders are limited for about an hour.

For safety, consider the price of the new digital asset is necessary, which was confirmed on CoinMarketCap as 0.0000212 BTC as of August 10th at 08:45 (KST). Members should be mindful of losses due to rapid market price fluctuations during the initial stage of transaction support.

At the time of writing, STG is trading at around 0.716, as its price has witnessed a significant increase of over 15% since the announcement of Upbit.

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.