Upbit announced that it will add the digital asset HumidiFi (WET) to its platform for trading in KRW, BTC, and USDT currency pairs.
According to the official announcement, deposit and withdrawal operations for WET will begin approximately two hours after the announcement is published.
WET transactions are scheduled to begin on December 15th at 6:30 PM. Transactions can only be carried out via the Solana network; transfers from other networks will not be supported.
Upbit highlighted trading restrictions as part of its standard security measures for new listings. Accordingly, buy orders will be restricted for the first five minutes after trading begins.
During the same period, sell orders will not be allowed at levels lower than 10% of the previous day’s closing price. Additionally, all non-limit order types, such as market orders, will be temporarily disabled for the first two hours.
According to prices determined based on CoinMarketCap data, WET’s previous day closing price was recorded as 290.07 TL, while the current price before the announcement was reported to be around 265.31 TL. A similar price decline was observed in BTC and USDT pairs as well.
HumidiFi stands out as an innovative decentralized exchange (DEX) project developed on the Solana blockchain and aiming for high-performance transaction execution.
The project aims to solve problems such as high slippage, MEV risk, and information asymmetry caused by traditional automated market maker (AMM) models. The WET token, on the other hand, serves as a key utility asset within the network, used for staking, discounts on transaction costs, and long-term participation incentives.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/bitcoin-exchange-upbit-announced-it-will-list-this-altcoin-on-its-spot-trading-platform-here-are-the-details/
