Upbit, South Korea's largest exchange, announced the launch of API3 trading pairs against KRW and USDT. This event has led to a significant price increase.
API3 Launch on Upbit
Upbit officially announced the launch of API3 trading pairs against KRW and USDT starting August 19, 2025, at 5:00 PM KST. Deposits are exclusively processed through the Ethereum network, emphasizing the importance of correct network usage for fund transfers.
Market Reaction and Price Changes
The announcement led to an impressive price surge of over 85% for API3. The increase in trading volume signifies high market interest and potential volatility, highlighting the impact of major exchange listings on asset valuations.
Trading Restrictions
To ensure market stability, Upbit has introduced trading restrictions, including freezing buy orders and limiting sales to prevent movements below 10% of the previous close. These measures are aimed at protecting investors amid volatility.
The debut of API3 on Upbit showcases strong local market interest and could significantly affect Ethereum-based liquidity and attract attention from the decentralized finance sector.
