South Korean exchange Upbit has announced the listing of Altlayer (ALT) and Pyth Network (PYTH) altcoins.
Upbit is South Korea's largest cryptocurrency exchange in terms of trading volume. Previously, the platform allowed clients to trade South Korean won (KRW) and Bitcoin (BTC) with a wide range of cryptocurrencies, BeInCrypto reported.
The additional listing of ALT and PYTH has attracted significant interest among investors and crypto traders.
The ALT/BTC pair went live on Upbit's marketplace on February 27 at 09:00 UTC. Upbit said that ALT is supported on the Ethereum network for deposits. The exchange also noted that ALT is different from ArchLoot (ALT), which is traded on other platforms.
Trading of Pyth Network pairs, PYTH/BTC and PYTH/KRW, began at the same time as ALT. Upbit reaffirms its commitment to providing secure transactions. The PYTH altcoin is backed by the Solana blockchain.
In order to maintain the stability of the market, the crypto exchange Upbit adhered to some restrictions. In particular, the number of initial buy orders was limited by sell order thresholds. This avoids excessive asset volatility and prevents potential market manipulation. This policy demonstrates Upbit's proactive approach to protecting its trading ecosystem.
The listing of ALT and PYTH speaks to the future prospects of these altcoins. ALT offers a Rollup as a Service (RaaS) and an Actively Validated Service (AVS) infrastructure. It is interesting for developers of storage package projects without deep blockchain knowledge.
At the same time, PYTH is characterized by the combination of offline financial data with internal DApps.
The crypto community was optimistic about the launch of ALT and PYTH. The market reaction manifested itself in a 40% increase in the value of PYTH, with February showing over 110% growth.
After the listing announcement, ALT saw a 25% increase in 24 hours and an 80% increase for February.
DeFi analyst Dave Spike is confident that the value of PYTH will exceed $1 "sooner than expected".
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