South Korea’s leading crypto exchange, Upbit, has announced the listing of trading support for the digital asset DRIFT, paired with KRW, BTC, and USDT, on the Solana network today. Trading for DRIFT will begin today at 6 p.m (KST) with deposits and withdrawals available within three hours of the announcement.
신규 디지털 자산 드리프트(DRIFT) 거래지원 안내
✅ 지원 마켓: KRW, BTC, USDT 마켓
???? 거래지원 개시 시점: 2024-11-08 18:00 예정
???? 공지 바로가기: https://t.co/6aYlc3ZKl6 #Upbit #DRIFT pic.twitter.com/YLA1EUtwoL— Upbit Korea (@Official_Upbit) November 8, 2024
In the official statement, Upbit has outlined several trading and transaction restrictions for DRIFT for a secure and stable trading experience including– 1. A buy limit for approximately 5 minutes after DRIFT trading begins. 2. Sell orders below 90% of the previous day’s closing price will be restricted for around 5 minutes after trading support starts. 3. Only limit orders will be available during the first hour after trading support, with all other order types temporarily restricted.
Here’s the current prices for DRIFT as of November 8, 2:30 p.m. (KST):
- KRW: Previous Day’s Close – 688.98 KRW, Recent – 730.67 KRW
- BTC: Previous Day’s Close – 0.00000656 BTC, Recent – 0.00000692 BTC
- USDT: Previous Day’s Close – 0.499 USDT, Recent – 0.5279 USDT
In the announcement, Upbit advised, “Deposits and withdrawals are only supported through the guided network (DRIFT-Solana). Please check the network before depositing”
Moreover, Upbit’s compliance to the Travel Rule means that deposits from exchanges not listed as eligible virtual asset operators may experience delays or inability to be reflected in users’ accounts, potentially requiring extended refund processing times.
Note that only wallet addresses that have completed ‘ownership verification’ are eligible for DRIFT deposits and withdrawals. Deposits from personal wallets that have not gone through this verification process may also be subject to return, depending on the network compatibility.
Upbit has advised users to carefully review all transaction restrictions, especially for DRIFT trades within the first hour, to prevent complications and ensure a secure trading experience on the platform.
Also Read: South Korea’s Upbit to Temporarily Suspend NEAR Protocol Transactions on Nov 5