It seems that the cryptocurrency bear market has not affected the crypto exchange Upbit as it has influenced other firms, sectors, and platforms as a whole. Despite this crypto winter, this specific platform is ready to be the protagonist looking for a big expansion.
Since 2017, Upbit has been striving really hard when cryptos back then were just trying to balance its stance in the mainstream market. Moreover, the company has been successfully made quite a history in this space.
Considering its performance, its average trading volume has been $84,768,693 USD worth daily, however, at the moment; it is the 34th largest crypto exchange in South Korea according to CoinMarketCap. Moreover, the company aims to make the same stance within the Indonesian market, with the plans to launch its project in a specified location.
Indonesia holds a huge potential in terms of the crypto market which is yet to completely explore. Many of them feel that this location can bring a good future. Currently, this exchange works in the country including South Korea and Singapore.
Moreover, the CEO at Upbit, Alex Kim confirms about this new market to possess a lot of growth potential and it might help the company to ponder. Meanwhile, the entire team seems optimistic regarding the prospects to explore this new country and help their local investors accomplish their goals.
Upbit Is Rolling Out Its Launch With An Airdrop
To grab out audience attention for this launch, the Upbit platform is announcing a huge airdrop worth 250,000 ICON (ICX) tokens for around 2500 customers which can sign in this new area of a company.
The eligibility for airdrop specifies that member should be also eligible to take part in the exchange. This rule follows the country’s’ local law. Additionally, the user needs to pass the entire KYC aka Know Your Customer verification procedure. Lastly, the specific money is said to be airdropped right into the Upbit wallet of the particular customer.
On the other side, few people stand against this decision. Because they believe this move to be right after the South Korean police caught them on wash trading. However, the police investigation is still in process. Some skeptics feel that the company might be preparing for an exit strategy. This step might be to enter a new territory in case things gets messed up in South Korea.
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