Rajarshi Mitra
Independent Analyst
- Ground X announced that Klay will list on Upbit’s Singapore and Indonesia platforms soon.
- Upbit Singapore said that Klay will be listed following price delivery via a Dutch auction.
South Korean messaging platform Kakao’s “Klay” token - the native cryptocurrency of Klaytn blockchain - will soon be making its official exchange listing on Upbit’s platform. Ground X, a firm set up by Kakao to develop the Klaytn network, announced that Klay will be listed on Upbit’s Singapore and Indonesia platforms by the end of this month.
Upbit Singapore stated that Klay will be listed following price delivery through a Dutch auction on September 18. The exchange noted that Upbit and Klaytn will not be profiting from the auction. Upbit will “redistribute all proceeds” to customers in the future. The firm also revealed that a total of 10 billion Klay will be distributed through to 2021. The distribution will be done in monthly tranches varying from 29 million to 278 million tokens.
Upbit also noted that in a private sale in December 2018, Klay was priced at $0.03 per unit. In April 2019, a private sale witnessed Klay reach $0.08 per unit. Ground X had earlier raised $90 million in a private coin offering this spring.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
TRON gains 10% in 2024, supply of stablecoins reaches over $50 billion in Q1
TRON, a blockchain-based digital platform, has seen positive growth in the first quarter of 2024, as seen in a Messari report. TRON noted gains across several metrics like market capitalization, revenue and total value locked.
XRP hovers near $0.50 as Ripple CTO addresses concerns related to stablecoin launch
XRP is hovering near $0.53 on Friday, spending nearly all week below $0.55. Ripple CTO David Schwartz addressed concerns on stablecoin and XRP utility on Thursday.
Terraform Labs set to restrict access for users in the US after recent ruling in SEC lawsuit
Blockchain company Terraform Labs said Thursday that it will restrict access to some of its products and services for US-based users as it expects to receive a court order soon in light of its legal battle against the US Securities and Exchange Commission (SEC).
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Bitcoin: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.