Upbit delays launch of 4 altcoins, adds BTC/USDT pairs — here’s what traders need to know South Korea’s largest crypto exchange Upbit announced it will list Biconomy (BICO), Bubblemaps (BMT), Nillion (NIL) and ETHGas (GWEI) with both BTC and USDT trading pairs on Aug. 21 — a total of eight new markets — but trading was pushed back after an on-the-day schedule change. Key details - New markets: BICO, BMT, NIL, GWEI — each receiving BTC and USDT pairs. No KRW markets were announced. - Original open time: 13:00 KST on Aug. 21. At 12:50 KST the exchange postponed the start to 16:00 KST (three-hour delay). Upbit apologized but gave no detailed reason. - Deposits/withdrawals: Upbit opened deposit and withdrawal channels shortly after publishing its listing notice earlier in the day. The exchange provided contract addresses and asked users to verify assets and networks before sending funds. - Supported networks: BICO, NIL and GWEI deposits only via Ethereum. BMT deposits only via Solana. Upbit will not accept transfers made over unsupported networks even when other token versions exist. - Liquidity caveat: Upbit warned trading could be delayed again if deposits/withdrawals do not produce sufficient liquidity before the revised open time. - Compliance and recovery: Large deposits may require source documentation. Transfers from exchanges that don’t meet Travel Rule standards may be delayed pending extra checks. Mistaken-network deposits may be difficult or impossible to recover. Initial order controls - Buy orders will be restricted for roughly five minutes after markets open. - Sell orders priced more than 10% below the reference closing price will be blocked during that initial window. - For about two hours after opening, only limit orders will be accepted; other order types and execution conditions will be enabled once restrictions are lifted. These measures are designed to help manage limited liquidity and reduce extreme price swings at market open, but they don’t guarantee price stability or protect traders from losses. Context and token summaries - Upbit has been expanding its non-KRW markets in recent months (it added nine tokens to BTC/USDT markets in June). - Token overviews: - Biconomy (BICO): Infrastructure for simplifying blockchain UX via account and chain abstraction. BICO supports governance and staking. - Bubblemaps (BMT): Tools for visualizing token distribution and address linkages; BMT powers platform access and incentives, including its Intel Desk. - Nillion (NIL): Privacy-focused compute platform for secure data storage, confidential computation and AI workloads. NIL is used for payments, node rewards and staking. - ETHGas (GWEI): Building a market for Ethereum blockspace and preconfirmed transactions that lets validators sell future block capacity; GWEI supports governance and staking. Market reaction note Past Upbit listings have produced mixed outcomes — some tokens surge on listing, others fall despite new exchange access (Venice Token is a recent example of declines after getting new Upbit pairs). Any price action for BICO, BMT, NIL or GWEI will depend on market supply, demand and liquidity, not merely the listing announcement. What traders should do - Double-check contract addresses and selected blockchains before transferring funds. - Expect initial trading restrictions and possible further delays if liquidity is insufficient. - Monitor Upbit’s official notices for the latest schedule and any changes. Upbit has postponed listing start times before, so traders should follow the exchange’s live announcements rather than relying on the original timetable. Read more AI-generated news on: undefined/news