Bithumb Announces Listing of ZORA and RECALL Tokens with Fee Waiver Event

Bithumb, one of South Korea's premier cryptocurrency exchanges, has enhanced its trading portfolio by announcing the listing of ZORA (ZORA) and RECALL (RECALL) tokens on its Korean Won (KRW) trading market. This exciting development, disclosed on October 21, will include a celebratory fee waiver event exclusively for these tokens, ensuring all trades made during the promotional period are transaction-fee-free. The fee waiver will be active from the launch of trading on October 21 through October 23 at 7 p.m. KST, providing an incentive for cryptocurrency enthusiasts to engage with these newly listed assets.

Trading Schedule and Initial Pricing Structure

Bithumb has confirmed precise trading schedules for the debut of ZORA and RECALL tokens. Trading for ZORA is scheduled to open at 6 p.m. KST on October 21, accompanied by an initial reference price of KRW 146. Following ZORA, trading for RECALL will commence at 7 p.m. KST the same day, with its reference price set at KRW 530.

Deposits for both tokens are exclusively supported via the BASE network, thereby restricting the use of other networks for transfers. For users seeking to deposit funds successfully, a minimum of 200 deposit confirmations will be required. Additionally, deposit and withdrawal functionalities are expected to be fully operational within two hours of the announcement, ensuring seamless access to these newly listed digital assets.

Fee Waiver Promotion Details

To honor the launch of ZORA and RECALL, Bithumb’s zero transaction fee event eliminates trading costs for both tokens during the promotional period. Trades executed under this framework will count toward account membership tier calculations, granting users the chance to build higher-volume trading profiles without incurring fees. However, participants should note that trading points and maker rewards will not be credited for transactions during this limited event.

Importantly, orders finalized after the promotion ends will be subject to standard trading fees, regardless of when the transaction was initiated. Traders are urged to carefully monitor execution times to ensure they benefit from the offer, which concludes promptly at 7 p.m. KST on October 23.

Safeguarding Market Stability Through Trading Restrictions

To maintain a secure and stable trading environment for the newly listed ZORA and RECALL tokens, Bithumb has introduced several temporary trading restrictions. For the first five minutes following the launch of trading activities, the platform will only support sell orders, with the price confined to a range of -10% to +100% from the pre-determined reference price. This measure seeks to curb drastic price fluctuations and stabilize early market conditions.

Furthermore, during the initial two hours post-listing, only limit orders will be permitted. This restriction serves to ensure traders have greater control over their transactions while reducing the likelihood of market volatility, offering a more structured and reliable experience for all users.

Investor Safety Guidelines and Precautions

Bithumb has reinforced its commitment to investor protection, urging users to comply with travel rules and rely solely on verified virtual asset service providers for deposits to reduce risks associated with inaccurate transactions or fraudulent activities. The platform also places strong emphasis on avoiding deposit errors linked to unsupported networks, particularly for BASE network transactions required for ZORA and RECALL deposits.

Newly registered users may face additional verification requirements in their first seven days, a security measure designed to enhance user account safety and prevent unauthorized or fraudulent activity on the exchange. These precautions, alongside the detailed trading rules, are part of Bithumb’s efforts to foster a secure and transparent ecosystem for digital asset trading.

Conclusion

The listing of ZORA and RECALL tokens on Bithumb’s KRW trading market marks an important milestone for investors and traders seeking new opportunities in the cryptocurrency sphere. Coupled with the fee waiver event, the launch provides ample incentives for users to diversify their portfolios and capitalize on these emerging assets. Bithumb’s implementation of trading restrictions and its emphasis on safety measures demonstrate its dedication to creating a stable market environment while prioritizing user security. As these tokens debut on the exchange, traders are encouraged to stay informed, follow precautionary guidelines, and seize the opportunity presented during this limited promotional period.