Upbit, one of South Korea’s leading cryptocurrency exchanges, has announced it will list another digital asset. According to the official announcement, Onyxcoin (XCN) will begin trading on April 27th at 4 PM in Korean won (KRW) and Tether (USDT) pairs. Deposits and withdrawals for XCN will be available approximately 1 hour and 30 minutes after the announcement.
The exchange emphasized that users should check network compatibility before making a transaction. Only the Ethereum network will be supported for XCN, and transfers from other networks will not be accepted. It was also stated that the transaction start time may be delayed if sufficient liquidity is not available.
Some temporary trading restrictions will also be applied as part of the listing. Accordingly, buy orders will be limited for the first 5 minutes after trading begins. During the same period, sell orders below 10% of the previous day’s closing price will not be allowed. Only limit orders will be valid for the first two hours.
Onyxcoin stands out as a Layer 3 blockchain solution developed on the Arbitrum Orbit infrastructure. The project aims to offer high transaction capacity, low cost, and Ethereum compatibility all in one package. It also uses the AnyTrust data access solution for consensus building via the Base network.
The XCN token is used for transaction fees, staking, governance, and various service payments. With this listing, Onyxcoin is expected to expand its reach to a global investor base and experience an increase in trading volume.
*This is not investment advice.