Altcoin with a 16% Price Surge in the Last 24 Hours to Be Listed on Upbit’s KRW Market

Upbit has announced the listing of an altcoin.

According to the statement published on Upbit’s official website, Litentry (LIT) will begin trading on the platform. LIT will be listed against the Korean Won (KRW) via the LIT/KRW pair on August 24 at 1:00 PM. The announcement noted that trading support is scheduled to begin at the specified time, though the date may be postponed if sufficient liquidity is not provided.

In the statement made by Upbit, it was noted that LIT deposits and withdrawals can only be carried out via the Ethereum network. A warning was issued that transfers outside the specified network will not be supported, and the refund process for deposits made via the wrong network may take a long time. The contract address for the LIT supported by Upbit was shared as 0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2.

It was announced that buy orders for the asset in question will be restricted for approximately 5 minutes after trading support begins. Additionally, it was stated that only limit orders will be accepted for approximately 2 hours following the listing.

In addition, it was stated that sell orders cannot be placed at levels where the price of LIT falls 10% below the previous day’s closing price during the first approximately 5 minutes after trading support starts. Upbit reported that the reference prices for trading restrictions will be determined based on the previous day’s closing in the BTC market.

According to the released data, the reference previous day’s closing price for LIT was shared as 0.00004500 BTC, or 4,803 won. According to CoinMarketCap data, the LIT price has risen 16.32% in the last 24 hours and is trading at the $3.61 level.