Upbit Lists Block Street Token Amid Liquidity Concerns

Upbit, a major South Korean cryptocurrency exchange, added Block Street's (BSB) token to its KRW, BTC, and USDT markets on August 7. The exchange allowed trading in three new spot pairs for BSB. However, Upbit made it clear that the trading start was conditional upon sufficient liquidity being secured.

The exchange warned that deposits and withdrawals would initially be supported only through Ethereum. Users were advised to verify the supported network before transferring BSB as deposits sent through unsupported networks may require a lengthy return process.

Upbit also imposed temporary trading limits on BSB during its opening period. Buy orders will be blocked for about five minutes after trading begins, and sell orders priced more than 10% below the previous day's closing price will also be restricted. Additionally, only limit orders would be allowed for roughly two hours after trading support starts.