By Nermeen Nabil Khear TLDR
- Berachain’s BERA token will launch simultaneously on South Korean exchanges Upbit and Bithumb on February 6, 2025 at 22:00 KST
- The token launch coincides with Berachain’s mainnet release, which features a Proof-of-Liquidity consensus mechanism
- Bithumb will offer BERA/KRW trading with initial restrictions, while Upbit will support BERA trading pairs with KRW, BTC, and USDT
- Berachain evolved from an NFT project called Bong Bears into a full blockchain ecosystem
- Upbit is also adding Jito (JTO) and Scroll (SCR) tokens to its platform on the same day at 18:00 KST
Planned for February 6, 2025, Berachain is set to make its debut on two of South Korea’s largest cryptocurrency exchanges, Upbit and Bithumb, marking a key milestone in its transformation from a simple NFT project to a full-fledged blockchain platform.
The exchanges announced they will begin trading support for Berachain’s BERA token simultaneously at 22:00 KST. This launch timing aligns with the planned release of Berachain’s mainnet, introducing a new player in the layer-1 blockchain space.
Berachain stands out for its technical architecture as an Ethereum Virtual Machine (EVM) compatible layer-1 blockchain. The platform implements a unique Proof-of-Liquidity consensus mechanism, differentiating it from traditional Proof-of-Work or Proof-of-Stake systems.
The platform’s journey began with the Bong Bears NFT project, showcasing how blockchain projects can evolve beyond their initial scope. This transformation has led to the development of a complete blockchain ecosystem, which will be accessible to users starting February 6.
Bithumb’s listing of BERA will focus exclusively on Korean won trading pairs. The exchange has implemented specific trading restrictions for the token’s launch, including a five-minute initial restriction period on buy and sell orders.
These restrictions on Bithumb 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’s approach differs, offering more trading pair options for BERA. Users will be able to trade BERA against Korean won, Bitcoin, and Tether. However, Upbit has noted that the exact start time for trading might be adjusted based on liquidity levels.
The exchange has included a cautionary note about potential schedule changes, emphasizing the importance of adequate liquidity for stable trading conditions. This flexibility helps ensure a smoother launch for the new token.
On the same day as the BERA listing, Upbit is expanding its offerings further by adding two additional tokens to its platform. Solana-based Jito (JTO) and Scroll (SCR) will become available for trading at 18:00 KST.
These new additions will be limited to Bitcoin and Tether trading pairs, offering users more diverse trading options on the platform. The timing of these listings shows Upbit’s strategic approach to expanding its token offerings.
Market data has shown varied responses to these listing announcements. Scroll has experienced 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. The token saw only a 0.28% increase in the same 24-hour period, continuing its recent downward trend of 15.8% over the previous week.
Weekly performance metrics show Scroll maintaining relative stability with a 0.71% increase, while Jito continues to face selling pressure in the market.
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, with Bithumb implementing more stringent initial trading limits compared to Upbit’s approach.
The post South Korean Exchanges Add Berachain Token Amid Mainnet Launch appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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