Upbit: the exchange lists 12 new crypto for the USDT market

Upbit has announced that it will list 12 new cryptos for the USDT market on its trading platform. Among others, the largest crypto-exchange in South Korea has chosen Adventure Gold (AGLD), MultiverseX (EGLD), Filecoin (FIL), Lumiwave (LWA), Near Protocol (NEAR), Stellar Lumens (XLM), and others. 

Upbit: the platform from South Korea announces the listing of 12 crypto assets for the USDT market

The famous trading platform from South Korea, Upbit, has announced the listing of 12 new cryptos on the USDT market. 

The new 12 crypto assets chosen by Upbit are Adventure Gold (AGLD), AhaToken (AHT), ARPA, Astar (ASTR), Bancor (BNT), MultiversX (EGLD), Filecoin (FIL), LumiWave (LWA), NEAR Protocol (NEAR), Orchid (OXT), Radworks (RAD) and Stellar Lumen (XLM). 

In the official announcement, Upbit adds the type of support network it offers for each new crypto, as they travel on different blockchains.

Not only that, the largest South Korean crypto-exchange has issued trading restrictions. Among others, there is the purchase restriction: in practice, purchase orders are limited for about 5 minutes after the transaction support. 

Upbit and the new listing on the Tether (USDT) market of the largest South Korean platform 

Upbit also provided a table of the previous day’s closing prices for the newly listed assets. The table provides prices in BTC, KRW, and USDT. 

In practice, the largest trading platform in South Korea has imposed an additional limit. 

In fact, Upbit imposes a 5-minute limit after transaction support for those sell orders issued at a price equal to or less than 10% compared to the closing price of the previous day. 

This is why crypto investors will need to check those prices from the previous day before implementing their trading strategies. 

In the meantime, speaking of Tether, the largest stablecoin in the world USDT has seen its market cap soar in the last 24 hours. 

The market cap of USDT surpasses 125 billion dollars

Tether (USDT) has surpassed the threshold of 125 billion dollars in market cap, exactly in the last 24 hours. 

In fact, the crypto rally following Trump’s victory in the 2024 USA presidential elections has also influenced USDT. 

Looking at the chart of the last month, the growth of the market cap of USDT seemed very stable, but something changed from November 7. 

USDT went from a market cap of 120.6 billion dollars on November 6 to 121.52 billion dollars on November 7. On November 8, the market cap then rose above 122 billion dollars and on November 9 above 123 billion dollars. 

Yesterday, the market cap of USDT reached 124 billion dollars, surpassing the $125 billion threshold in the last few hours.

This means that in the last seven days, the market cap of USDT has increased by a whopping 4 billion dollars.

While USDT conquers market volumes, still the solution for its integration into MiCA has not been revealed, the European regulation.