South Korea’s largest cryptocurrency exchange, Upbit, has announced the listing of WAL trading pairs. WAL, the native token of Walrus, will now be available for trading against Korean Won (KRW), Bitcoin (BTC), and Tether (USDT).
The move comes as Walrus, a blockchain storage protocol, secured a massive $140 million in funding, further cementing its presence in the industry.
WAL Trading Pair Launched on Upbit
Walrus, a blockchain storage protocol, aims to revolutionize decentralized storage for blockchain applications. By providing an alternative to traditional storage solutions, the project hopes to bring greater efficiency and security to the industry.
Upbit’s decision to introduce the WAL trading pair is a major milestone for the Walrus ecosystem. With South Korea being one of the most active cryptocurrency markets, this listing is expected to drive significant trading volume for the WAL token.
The inclusion of multiple trading pairs—KRW, BTC, and USDT—allows investors to choose their preferred method of buying and selling WAL, increasing its accessibility. Market analysts believe that this listing could increase WAL’s liquidity and potentially push its price higher, as seen with previous listings on Upbit.
Walrus secures $140 million in funding
The listing news comes after Walrus’ recent announcement of a $140 million funding round. The funding shows strong investor confidence in Walrus, which operates as a blockchain storage protocol.
What makes Walrus even more appealing is that it comes from the same development team behind Sui, a popular blockchain project. Given Sui’s solid reputation, investors are hoping that Walrus will achieve similar success.
However, Upbit has stated that it will take time to ensure sufficient liquidity before supporting full trading. Until then, traders are advised to stay tuned for further updates.
Upbit Deposit and Trading Rules
Upbit also shared key details regarding deposits and trading restrictions. WAL transactions will only be supported through the Sui network and users must verify that they are using the correct network before making deposits.
Deposits made before the price is set on CoinMarketCap or before trading begins will be subject to Traveler verification, especially for amounts over $1 million.
