Quickly understand the history and background of various well-known coins

"Berachain's BERA Token Lists on South Korean Giants Amid Mainnet Launch"

Coin WorldThursday, Feb 6, 2025 6:01 am ET

1min read

South Korean Exchanges Add Berachain Token Amid Mainnet Launch

South Korean cryptocurrency exchanges Upbit and Bithumb are set to list Berachain's BERA token on February 6, 2025, at 22:00 KST, coinciding with the launch of Berachain's mainnet. The mainnet features a unique Proof-of-Liquidity consensus mechanism, differentiating it from traditional Proof-of-Work or Proof-of-Stake systems.

Berachain's journey began as an NFT project called Bong Bears, but it has since evolved into a full-fledged blockchain platform. The listing on Upbit and Bithumb marks a significant milestone in this transformation.

Bithumb will offer BERA/KRW trading with initial restrictions, including a five-minute initial restriction period on buy and sell orders. These restrictions limit orders to between 10% and 100% of the standard price. Trading will open up more fully after the completion of the first transaction, allowing for automatic orders to begin.

Upbit, on the other hand, will support BERA trading pairs with KRW, BTC, and USDT. The exchange has noted that the exact start time for trading might be adjusted based on liquidity levels to ensure a smoother launch for the new token.

In addition to BERA, Upbit is also adding two other tokens to its platform on the same day at 18:00 KST: Solana-based Jito (JTO) and Scroll (SCR). These tokens will be available for trading in Bitcoin and Tether pairs.

The market has responded to these listing announcements with varied reactions. Scroll has seen a notable price increase, rising more than 15% in the 24 hours following the announcement, reaching a trading price of $0.68. In contrast, Jito's price movement has been more modest, with only a 0.28% increase in the same 24-hour period.

The launch includes specific requirements for BERA deposits and withdrawals, which will only be possible through the new Berachain mainnet launching the same day as trading begins. Each exchange has established its own trading parameters and restrictions to ensure an orderly market opening.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.