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Following
AIOZ 
BTC 
ICNT 
ALLO 
XAN 
EDEN Upbit announced the launch of six new tokens, and trading will start today.
South Korean cryptocurrency exchange Upbit announced that it will add trading support for six tokens: CYS, ICNT, XAN, EDEN, AIOZ and ALLO. These six altcoins will be listed on the BTC and USDT exchanges.
The exchange originally planned to start trading at 13:00 on August 10, Beijing time. However, the announcement was subsequently updated and the launch time was postponed to 17:00 Beijing time, which is 11:00 Turkish time.
With the launch of new tokens, Upbit users will receive new trading pairs of these six tokens on the same day.
What altcoins has Upbit launched?
According to Upbit's announcement, the tokens supported by the new transaction are as follows:
CYS (Cysic)
ICNT (Impossible Cloud Network)
XAN (Anoma)
EDEN (OpenEden)
AIOZ (AIOZ Network)
ALLO (Allora)
These six assets will be open to the BTC and USDT trading markets. However, it should be noted that the blockchain networks used by these tokens vary.
Various token networks have made it clear
Upbit announcement shows that CYS and ICNT support Base networks. XAN, EDEN and AIOZ use the Ethereum network. ALLO's charging and withdrawing operations will be carried out through the Allora network.
The exchange specifically reminds users to confirm the correct network before recharging. The announcement clearly states that transfers through networks other than the designated network are not supported.
Therefore, when new tokens are launched, users not only need to pay attention to the trading market, but also need to carefully check the network for recharge and withdrawal.
There are trading restrictions on new online altcoins
Upbit will also implement temporary trading restrictions on new online coins. According to the announcement, buy orders will be restricted for approximately 5 minutes after trading starts. In addition, the sell order price must not be less than 10% of the previous closing price.
At the same time, specific order types such as market orders will not be available for about 2 hours after the transaction is initiated, and only limit orders will be supported during this period.
Upbit stated that the above price limits will be determined based on price data provided by CoinMarketCap.
What are CYS, ICNT, XAN, EDEN, AIOZ and ALLO?
According to Upbit's project description, these six tokens focus on different blockchain and Web3 domains.
CYS is a token used by Cysic in the ComputeFi ecosystem, a project that aims to make GPUs, ASICs and other hardware resources available through a decentralized architecture.
ICNT is used for Impossible Cloud Network's DePIN-based cloud infrastructure, a project that aims to connect physical hardware resources such as storage, GPUs, and CPUs to services through a decentralized network.
XAN serves as a governance token for the Anoma ecosystem, which is developing a decentralized infrastructure aimed at integrating different blockchains into a single environment.
EDEN belongs to OpenEden's RWA-centered ecosystem, which is dedicated to developing financial products that bring real-world assets into blockchain.
AIOZ is the native token of the AIOZ Network, focusing on decentralized storage, content distribution, video and artificial intelligence infrastructure.
ALLO is used for services, pledges, governance and reward mechanisms in Allora's decentralized machine intelligence network.
Why is the launch of Upbit important to altcoins?
Six tokens started trading simultaneously on Upbit's BTC and USDT markets, meaning these assets have gained new trading channels on one of South Korea's major cryptocurrency exchanges.
However, the decision to go online does not mean that the token price will inevitably increase in the future. The impact of new trading support on prices may depend on multiple factors such as liquidity, trading volume and investor demand.
The current confirmed news is that Upbit has activated trading support for CYS, ICNT, XAN, EDEN, AIOZ and ALLO, and has updated the launch time to 17:00 Beijing time.
This content is based on general market data and does not constitute investment advice. It is recommended that you conduct independent research.
