Upbit, South Korea's largest cryptocurrency exchange, announced that it supports new trading pairs for Taiko (TAIKO). The exchange will expand the accessibility of this emerging cryptocurrency by launching TAIKO trading on the KRW, BTC and USDT markets.
Upbit to Support New Trading Pairs for Taiko (TAIKO) Including KRW, BTC and USDT Markets
Taiko is an Ethereum ZK-Rollup layer 2 network designed to increase scalability and reduce transaction costs on the Ethereum blockchain.
The network leverages zero-knowledge rollups (ZK-Rollups) to process multiple transactions off-chain, thus increasing efficiency and throughput.
In a major milestone for Taiko, Ethereum co-founder Vitalik Buterin proposed the first block in preparation for the Taiko mainnet. This approval highlights the potential and innovation behind the Taiko network as it moves towards full deployment.
The addition of TAIKO trading pairs to Upbit is expected to increase the token's liquidity and adoption, providing investors in South Korea and beyond with more options to participate in this promising project.
Upbit's decision reflects the growing interest in layer 2 solutions and their role in addressing scalability issues faced by large blockchain networks such as Ethereum.
As the cryptocurrency market continues to evolve, Upbit remains at the forefront by supporting innovative projects and offering a variety of trading opportunities to its users.
The launch of TAIKO trading pairs underlines Upbit's commitment to evolving its platform and meeting the needs of its global user base.
*This is not investment advice.