South Korea’s leading cryptocurrency exchange, Upbit, has announced the addition of the CyberConnect (CYBER) Altcoin project to its Market. The integration is set to go live on August 22, 2023, marking an important step in expanding the services offered by the exchange.
Upbit has stated that deposit support for the CYBER token will be available within three hours of the announcement. However, the exchange has specified that only deposits from the Ethereum network will be supported at this time, urging users to refrain from sending CYBER Tokens from other networks. Trading of the CYBER token is also scheduled to begin on the same day.
To ensure a smooth listing process, Upbit has implemented restrictions on buy and sell orders for the initial few minutes. Buy orders will be limited within the first five minutes, while sell orders will be capped at prices below -10% of the previous day’s closing price. Both market price and limit orders will face initial restrictions for about an hour after trading begins. These measures aim to reduce potential rapid market fluctuations that may negatively impact traders.
The listing of CYBER on Upbit follows the listing of Sei (SEI), Binance‘s Launchpool project, on the exchange. CYBER’s price experienced a momentary increase to $5.45 upon Upbit’s announcement, representing a 12% jump from its previous level of $4.87. However, the token’s price later dropped sharply by up to 17%. As of now, the CYBER token is trading at $4.57.
CyberConnect, the project behind the CYBER token, introduces the concept of web3 social networking. By leveraging a decentralized and composable protocol, CyberConnect empowers developers to build social applications that take control of users’ digital identities, content, connections, and monetization. The project’s vision is to reshape the social network by ensuring that value flows directly between creators and their audiences without intermediaries.
In contrast to traditional models where platforms derive value from interactions between creators and users, CyberConnect aims to protect against exploitative censorship and moderation by centralized organizations. The project provides a more fair and inclusive digital environment, offering content creators a platform to monetize their content and develop communities on their own terms. Unlike centralized platforms with questionable incentives, CyberConnect’s framework allows influencers and artists to engage with their fans using innovative features like digital collections.
In conclusion, the addition of the CYBER altcoin project to Upbit’s market signifies a significant Development for the exchange. Upbit has taken precautions to ensure a smooth listing process, implementing restrictions on buy and sell orders during the initial minutes of trading. The price of the CYBER token experienced a temporary increase upon the announcement, but later dropped sharply. CyberConnect’s vision is to reshape the social network by empowering creators and eliminating intermediaries through its decentralized protocol..
#Support #Altcoin #Giant #South #Korean #Exchange #Price #Jumps
Upbit has stated that deposit support for the CYBER token will be available within three hours of the announcement. However, the exchange has specified that only deposits from the Ethereum network will be supported at this time, urging users to refrain from sending CYBER Tokens from other networks. Trading of the CYBER token is also scheduled to begin on the same day.
To ensure a smooth listing process, Upbit has implemented restrictions on buy and sell orders for the initial few minutes. Buy orders will be limited within the first five minutes, while sell orders will be capped at prices below -10% of the previous day’s closing price. Both market price and limit orders will face initial restrictions for about an hour after trading begins. These measures aim to reduce potential rapid market fluctuations that may negatively impact traders.
The listing of CYBER on Upbit follows the listing of Sei (SEI), Binance‘s Launchpool project, on the exchange. CYBER’s price experienced a momentary increase to $5.45 upon Upbit’s announcement, representing a 12% jump from its previous level of $4.87. However, the token’s price later dropped sharply by up to 17%. As of now, the CYBER token is trading at $4.57.
CyberConnect, the project behind the CYBER token, introduces the concept of web3 social networking. By leveraging a decentralized and composable protocol, CyberConnect empowers developers to build social applications that take control of users’ digital identities, content, connections, and monetization. The project’s vision is to reshape the social network by ensuring that value flows directly between creators and their audiences without intermediaries.
In contrast to traditional models where platforms derive value from interactions between creators and users, CyberConnect aims to protect against exploitative censorship and moderation by centralized organizations. The project provides a more fair and inclusive digital environment, offering content creators a platform to monetize their content and develop communities on their own terms. Unlike centralized platforms with questionable incentives, CyberConnect’s framework allows influencers and artists to engage with their fans using innovative features like digital collections.
In conclusion, the addition of the CYBER altcoin project to Upbit’s market signifies a significant Development for the exchange. Upbit has taken precautions to ensure a smooth listing process, implementing restrictions on buy and sell orders during the initial minutes of trading. The price of the CYBER token experienced a temporary increase upon the announcement, but later dropped sharply. CyberConnect’s vision is to reshape the social network by empowering creators and eliminating intermediaries through its decentralized protocol..
#Support #Altcoin #Giant #South #Korean #Exchange #Price #Jumps
