SUI Token Goes Mainstream as South Korea's Top Exchange Joins
According to recent news, the publicity of the Sui network’s native token (SUI) led the largest crypto exchange in South Korea, Upbit, to join the top exchanges. The top exchanges involved Coinbase, Binance, OKX, Houbi, and others.
Moreover, the team behind the Sui Mysten Labs made a statement. He said the DPoS Layer 1 Blockchain, Sui mainnet, launched on 3 May at 12:00 PM UTC official.
Key Takeaways:
- Upbit, the largest South Korean crypto exchange, joins top exchanges due to the Sui network’s SUI token hype.
- The DPoS Layer 1 blockchain SUI mainnet launched on 3 May.
- Upbit lists SUI against Bitcoin (BTC) and Korean Won (KRW) pair.
- Sui is designated Proof of Stack Layer (DPoS) 1 blockchain with an asset-oriented programming model, low latency, and high throughput.
- Binance CEO warned Tron founder Justin Sun not to participate in Binance Launchpools SUI farming.
Upbit stated about listing the SUI native tokens of Sui networks on the exchange in an official announcement on 3 May. The exchange lists SUI against Bitcoin (BTC) and Korean won (KRW) pair.
Moreover, the SUI token withdrawal and deposit announcement occurs after assessing the network’s situation. The exchange does not support other deposits from networks such as BSE.
It only supports mainnet deposits. The company limits the buy or sell orders to the market price an hour after market support. It also limited the reservation for sell and buy orders.
Sui is a Designated Proof of Stack layer, 1 blockchain. It has low latency, high throughput, and an asset-oriented programming model. Mysten Labs increased $336 million in Series A and B funding rounds, a more than $2 billion valuation.
The initial token supply is 528,273,717, SUI according to the Sui Foundation. This token supply is about 5.28% of the total supply of 10 billion SUI. It comprises community reserve, public sales, app tests, community access programs, and more.
The public sale price of SUI is $2.61. In the last 24 hours, the trading price of SUI (IOU) is $3.19. The SUI has a similar level of expected demand as airdrops from Aptos (APT) and Arbitrun (ARB).
Changpeng CZ Zhao, the CEO of Binance, warned Tron founder Justin Sun not to participate in the Launchpool of Binance SUI farming on Monday. He stated that the Binance Launchpool is not for whales or him but for retail customers.
Justin Sun apologized and stated that the main goal of the TUSD deposit is to boost liquidity. He returned the money because some team members had participated in exchange campaigns without knowing it.
Crypto World in Shock: Experts React to This News
Crypto Market Trends took to Twitter and made an announcement that the hype of Sue Network and its native token SUI, leads the largest exchange in South Korea to join the top exchanges.
CoinGape News took to Twitter and made an announcement that the largest exchanges in South Korea joined the hype of the SUI token.
STCK.PRO took to Twitter and made an announcement that the biggest cryptocurrency exchange in South Korea, Upbit, has joined other leading exchanges like Binance, Coinbase, OKX, Huobi, and others as a result of the hype around the Sui network and its native coin, SUI.
The largest crypto exchange in South Korea, Upbit, leads to joining the other top cryptocurrencies like Binance due to the hype of the Sui Network SUI token. The Upbit exchange lists SUI against Korean won and Bitcoin.
The exchange only supports the manner deposits. Justice Son apologized to Binan CEO as he warned Justin Sn not to participate in the Binance Launchpool.