Upbit Announces Addition of EGLD in Korean Won and Bitcoin Markets

04/27/2023 01:10 • Crypto & Markets • 82 views

On April 27th, it was announced that Upbit will add EGLD in the Korean won and Bitcoin markets, and deposit support will be available within 3 hours, only supporting main network recharge. It is expected to open trading from April 2023 to 2715:00.

Upbit will be launched on EGLD

On April 27th, 2021, Upbit, one of the biggest cryptocurrency exchanges in South Korea, announced that they will be adding Elrond (EGLD) to their trading platform. According to the official announcement, Upbit users will be able to trade EGLD in Korean won and Bitcoin markets, with deposit support available within three hours. The trading of EGLD on Upbit is expected to open from April 28th, 2021, at 15:00 KST.

What is EGLD?

Before we dive into the details of Upbit’s addition of EGLD, let’s first understand what EGLD is. Elrond is a cryptocurrency network that aims to provide a high-performance blockchain infrastructure for dApps, enterprise use cases, and the digital economy. The Elrond network is powered by its native cryptocurrency, EGLD, which is used for staking, transaction fees, and as a medium of exchange.

Why is Upbit Adding EGLD?

Upbit’s decision to add EGLD to its trading platform is based on the growing demand for the cryptocurrency. Elrond has been gaining traction lately as more people are becoming aware of its potential to revolutionize the blockchain industry. The Elrond network has the ability to process up to 15,000 transactions per second, making it one of the fastest blockchain networks in the world. This scalability and speed make Elrond an attractive option for developers, businesses, and investors.

What Does This Mean for EGLD?

Upbit adding EGLD to its trading platform is a big deal for the cryptocurrency. It means that more people will have access to EGLD and will be able to trade it easily. This is expected to increase the demand for EGLD, which could result in a price increase for the cryptocurrency. Additionally, being listed on Upbit is a sign of credibility for EGLD, which could attract more investors to the cryptocurrency.

What Does This Mean for Upbit Users?

Upbit users now have the opportunity to trade EGLD on the platform. This means that they can buy and sell EGLD using Korean won or Bitcoin. Additionally, with the deposit support available within three hours, users can quickly and easily add EGLD to their Upbit wallets and start trading. This addition to Upbit’s trading platform offers users more options and potentially more profit opportunities.

The Future of EGLD

The addition of EGLD to Upbit is just the beginning of what could be a bright future for the cryptocurrency. Elrond is currently working on several partnerships and collaborations that could increase the adoption of EGLD and the Elrond network. Additionally, Elrond is working to improve its blockchain infrastructure and add new features to its network, which could make EGLD even more valuable in the future.

Conclusion

Upbit’s decision to add EGLD to its trading platform is a significant event for the cryptocurrency and the Elrond network. It offers more people the opportunity to invest in EGLD and could result in a price increase for the cryptocurrency. Additionally, it provides Upbit users with more options for trading and potentially more profit opportunities. This addition to the trading platform is a sign of growing interest in Elrond and its potential to revolutionize the blockchain industry.

FAQs

1. When will EGLD be available for trading on Upbit?
– EGLD is expected to be available for trading on Upbit from April 28th, 2021, at 15:00 KST.
2. What currencies can be used to buy and sell EGLD on Upbit?
– Upbit users can trade EGLD using Korean won and Bitcoin.
3. What is the potential of EGLD in the future?
– EGLD has the potential to become a valuable cryptocurrency as Elrond is working to improve its blockchain infrastructure and add new features to its network. Additionally, Elrond is working on several partnerships and collaborations that could increase the adoption of EGLD and the Elrond network.
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