tl;dr
Upbit, South Korea's leading global digital asset exchange, has announced a reduction in withdrawal fees for 22 cryptocurrencies, including Ethereum (ETH) and Shiba Inu (SHIB), effective from August 23, 2024, at 2:00 p.m. KST. This adjustment is in response to the recent decrease in Ethereum network...
Upbit, South Korea's leading digital asset exchange, reduces withdrawal fees for 22 cryptocurrencies, including Ethereum and Shiba Inu, effective from August 23, 2024.
Upbit's fee adjustments respond to the decrease in Ethereum network costs, impacting transaction fees for various tokens, including Cartesi, Aave, Telcoin, Dai, Loom Network, Ethereum Name Service, Function X, Yield Guild Games, Quiztok, Bancor, Audius, Golem, Hunt, Stargate Finance, 1inch, Orchid, Orbs, Curve DAO, Basic Attention Token, and Pundi X, as well as Ethereum-based NFTs. Upbit advises users to check applicable withdrawal fees at the time of their transaction and aims to strengthen its position in local and global markets amidst legal developments affecting rivals like Bithumb.
Upbit, South Korea's leading global digital asset exchange, has announced a reduction in withdrawal fees for 22 cryptocurrencies, including Ethereum (ETH) and Shiba Inu (SHIB), effective from August 23, 2024, at 2:00 p.m. KST.
This adjustment is in response to the recent decrease in Ethereum network costs. The withdrawal fee for Ethereum will be reduced from 0.009 ETH to 0.007 ETH, while Shiba Inu's fee will drop from 560,000 SHIB to 101,331 SHIB. Other notable fee reductions include Cartesi, Aave, Telcoin, Dai, Loom Network, Ethereum Name Service, Function X, Yield Guild Games, Quiztok, Bancor, Audius, Golem, Hunt, Stargate Finance, 1inch, Orchid, Orbs, Curve DAO, Basic Attention Token, and Pundi X, and Ethereum-based NFTs. Upbit advised users to check applicable withdrawal fees at the time of their transactions, and the existing fees will remain until the adjustments are fully implemented.
Upbit, South Korea’s leading global digital asset exchange, announced a reduction in withdrawal fees for 22 cryptocurrencies today.
These include prominent tokens like Ethereum (ETH) and Shiba Inu (SHIB). This adjustment will be effective from August 23, 2024, at 2:00 p.m. KST or 1 a.m. ET.
UPBIT CUTS DOWN WITHDRAWAL FEE FOR MAJOR TOKENS
Upbit’s latest move comes in response to the recent decrease in Ethereum network costs, which have a direct impact on transaction fees for various tokens. The withdrawal fee for Ethereum, the second-largest crypto by market capitalization, will be reduced from 0.009 ETH to 0.007 ETH. Moreover, Shiba Inu, a highly popular meme coin, will see its withdrawal fee drop significantly from 560,000 SHIB to 101,331 SHIB. In addition to these well-known tokens, the fee adjustment will affect a broad range of other cryptocurrencies on the crypto exchange. Cartesi fees will decrease from 13.05 CTSI to 3.20 CTSI, and Aave from 0.04 AAVE to 0.01 AAVE. Other notable changes include Telcoin from 84.24 T to 28.90 T, Dai from 3.15 DAI to 1.31 DAI, Loom Network from 51.03 LOOM to 23.24 LOOM, and Ethereum Name Service from 0.18 ENS to 0.08 ENS. Further adjustments include reductions for Function X from 15.9 FX to 7.6 TX, Yield Guild Games from 5.85 YGG to 2.89 YGG. In addition, Upbit reduced withdrawal fee for Quiztok from 1195.9 QTCON to 680.7 QTCON and Bancor from 3.8 BNT to 2.2 BNT. Other cryptocurrencies like Audius saw fee reduced from 17.2 AUDIO to 10.20 AUDIO.
DETAILS ON OTHER CRYPTO & NFT FEES
While Golem’s fee was slashed from 7.56 GNT to 4.56 GNT and Hunt from 5.58 HUNT to 3.63 HUNT. Additional assets affected are Stargate Finance with fees dropping from 9.0 SGT to 6.0 SGT, 1inch from 3.65 1INCH to 3.07 1INCH, Orchid from 20.18 OXT to 17.05 OXT, Orbs from 58.45 ORBS
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Technical Analysis Report: Navigating Market Trends
As a seasoned Technical Analyst, I've delved into the intricacies of market charts, trends, and various technical indicators. My data-driven approach focuses on deciphering support and resistance levels, breakouts, and patterns such as the head and shoulders pattern. Through the lens of technical analysis, I aim to provide actionable insights while acknowledging the uncertainties inherent in market prediction.
Key Findings:
- The stock has broken above its 50-day moving average, indicating a potential bullish trend.
- The Relative Strength Index (RSI) is currently at 70, suggesting the stock may be overbought.
- The Bollinger Bands are widening, reflecting increased market volatility.
Conclusion:
While the stock shows signs of a bullish trend, caution is advised due to the overbought RSI and heightened market volatility. Past performance does not guarantee future results, and investors should consider potential risks before making any decisions.