Upbit, one of the leading crypto exchanges, has recently made a major announcement. The exchange has added the SUI token to its KRW and BTC markets. This move has created a lot of buzz in the crypto community, as SUI token holders are eagerly anticipating the trading possibilities that come with being listed on a major exchange like Upbit.

The exchange has made it clear that only mainnet deposits are currently allowed. Deposits from networks like BSC are not supported at present. However, the exchange has declared that regardless of whether the value of the deposited tokens exceeds KRW 1 million, the travel rule will apply to all SUI deposits made before SUI is registered on CoinMarketCap.

Furthermore, the exchange has promised to provide information about SUI deposit and withdrawal procedures through a notice after evaluating the network situation. It has also asked users to keep in mind some of the limitations. These include restrictions on buy orders during the first five minutes of trading. During this period, the price will be announced in a subsequent notice, reflecting the market price of other exchanges at a later time. Additionally, market orders for Buy/Sell and reservations for Buy/Sell orders will be restricted for approximately one hour after market support.

Upbit has also cautioned users that they will be able to deposit and withdraw assets from a personal wallet address that has undergone a self-verification process. This is an important step to ensure the security of assets and prevent any potential scams or fraudulent activity.

SUI (IOU) is currently listed on CoinMarketCap, and its current price stands at $2.51. According to the data, SUI is available to trade on BitForex, Hotbit, DigiFinex, and SuperEx. The price has touched a high of $3.19 in the last 24 hours. The SUI token also has an initial circulation of 528,273,717 SUI, out of its total supply of 10,000,000,000.

This move has garnered a lot of attention from the crypto community, with many experts predicting that the listing of SUI on Upbit will lead to a significant increase in demand for the token. This could potentially result in a surge in the price of SUI, providing a profitable opportunity for traders.

In conclusion, the listing of SUI token on Upbit’s KRW and BTC markets is a significant development for the cryptocurrency ecosystem. This move will likely bring more visibility and liquidity to the SUI token, allowing more investors to participate in its growth. Upbit’s decision to only allow mainnet deposits for now may create some inconvenience for users, but it is a necessary step to ensure the safety and security of the network.

The cautionary notes from Upbit regarding trading restrictions and self-verification processes are also important reminders for users to be mindful of the risks involved in cryptocurrency trading. Overall, the SUI token’s current price and trading volume indicate a healthy demand for the token, and it will be interesting to see how it performs on Upbit’s markets.

As the cryptocurrency market continues to evolve and mature, we can expect to see more tokens and projects gaining traction and achieving wider adoption. Upbit’s listing of the SUI token is just one example of the ongoing growth and development of the cryptocurrency ecosystem, and it is a positive sign for the future of decentralized finance.