Ethereum Name Service (ENS) Rockets 13% Sequel To Major Listing Announcement đš
Experienced a significant boost, surging over 12% following a major announcement by Upbit, South Koreaâs largest cryptocurrency exchange. The news of ENS being added to Upbitâs Korean won trading market has sparked considerable interest in the token.
ENS, operating as a decentralized naming system on the Ethereum blockchain, has been making notable progress in simplifying blockchain interactions for users. The systemâs key feature allows users to purchase easily readable names such as âbob.ethâ and link them to various blockchain identifiers including addresses, content hashes, and metadata.
Details of the Upbit Listing and Trading Restrictions
Upbitâs decision to list the ENS token on its Korean Won (KRW) market is set for July 9, 2024, with the listing going live at 18:30 KST. This move is anticipated to significantly enhance the tokenâs liquidity and make it more accessible to South Korean investors, potentially expanding ENSâs user base in the Asian cryptocurrency market.
The exchange has outlined several transaction restrictions for the new listing. Buy orders will be restricted for about 5 minutes after the listing goes live, while sell orders priced below 10% of the previous dayâs closing price will face similar restrictions. Market price and pre-order options will be limited for approximately an hour post-listing. Upbit has set the previous dayâs closing price for ENS at 0.00047124 BTC, which equates to 37,951 KRW.
Upbit has also implemented strict deposit and withdrawal guidelines for ENS. These include supporting deposits and withdrawals only on the Ethereum network, implementing the âtravel ruleâ for additional review of deposits from non-listed virtual asset operators, requiring mandatory âownership verificationâ for personal wallet addresses, and potentially requesting explanations for the source of funds for large deposits from unknown sources.
