The APE-BTC trading pair on Upbit, South Korea’s largest exchange, experienced a notable increase in value today, reaching a maximum of 0.003 BTC (approximately $90) before settling at around 0.0011 BTC (about $33). The reason behind this surge in value may be due to Upbit’s suspension of ERC Token deposit and withdrawal, which is a temporary measure as the platform undergoes an upgrade in Shanghai.
While some traders may be excited about the sudden increase in the APE-BTC trading pair, it is important to remember that the cryptocurrency market can be highly volatile and unpredictable. It is crucial for traders to exercise caution and carefully assess the risks associated with any investment decisions.
At the same time, it is worth noting that the current situation on Upbit is temporary and is expected to be resolved soon once the platform’s upgrade is completed. Therefore, traders should keep a close eye on the market and be aware of any updates or changes to the situation.