Exciting Listing for Zora Altcoin on Upbit

South Korea's largest cryptocurrency exchange Upbit has revived investor interest with a remarkable development. The Zora (ZORA) altcoin will start trading on October 17 at 13:30 with South Korean Won (KRW), Bitcoin (BTC), and Tether (USDT) trading pairs.

An official announcement from Upbit stated that ZORA deposit transactions will only be possible through the Base network. Transfers from other networks will not be supported; therefore, investors are urged to be cautious. Investors were warned that the process of refunding funds in case of transfers made through the wrong network might take longer.

Additionally, it was announced that buying orders for ZORA will be restricted during the first five minutes of the listing. Immediately after the listing, only limit orders will be accepted for the first two hours. Furthermore, it was stated that during the first five minutes after the listing, the asset could not be sold at prices lower than 10% of the previous day's closing price. This means that investors need to monitor market movements more carefully.

According to CoinGecko data, despite the observed decline in the overall cryptocurrency market, the price of ZORA saw an increase of approximately 25% due to this news. It rose from the previous day's closing price of $0.094 to $0.118 with the new listing. This indicates significant activity in the altcoin market.

Especially with the price movements obtained from the new listing, while attracting the attention of investors, it is essential for Upbit users to be careful in order to minimize risks. Investors can develop their strategies regarding existing currencies by thoroughly monitoring the ZORA trading pair.