Upbit’s Latest Listings Trigger Double-Digit Price Surges in Two Altcoins
Upbit, South Korea’s largest cryptocurrency trade, has introduced the itemizing of two new altcoins. The platform confirmed it’ll add spot buying and selling help for Seeker (SKR) and Espresso (ESP).
In addition, Bithumb will even checklist ESP right this moment. Following the itemizing bulletins, each tokens recorded sturdy positive factors, with costs surging by double digits as buying and selling curiosity accelerated.
Upbit and Bithumb Expand Offerings With New Token Listings
According to Upbit’s discover, SKR shall be obtainable to commerce in opposition to three pairs: Korean Won (KRW), Bitcoin (BTC), and Tether (USDT). The exchange will open spot buying and selling at 16:00 Korean Standard Time (KST) on February 24 and allow deposits and withdrawals inside 90 minutes of the announcement.
“Deposits and withdrawals are supported solely by the required community (SKR-Solana). Please confirm the community earlier than making a deposit. The contract tackle for SKR supported by Upbit is: SKRbvo6Gf7GondiT3BbTfuRDPqLWei4j2Qy2NPGZhW3. Please affirm the contract tackle when depositing or withdrawing SKR,” the trade added.
In a separate notice, Upbit introduced help for ESP in the KRW, BTC, and USDT markets. Trading is scheduled to start at 17:00 KST right this moment.
Bithumb additionally announced the addition of ESP in its KRW market. The trade acknowledged that deposits and withdrawals will open inside two hours of the announcement, with buying and selling scheduled for 17:00 KST on February 24. The trade set the reference value at 149 KRW.
Both exchanges outlined short-term restrictions designed to handle volatility throughout the preliminary buying and selling interval. Upbit will limit purchase orders for about 5 minutes after buying and selling begins.
Sell orders priced 10% or extra under the day prior to this’s closing value will even be restricted for about 5 minutes. Additionally, the trade will allow solely restrict orders for about two hours after buying and selling help begins.
Bithumb will similarly restrict buy orders for 5 minutes following the beginning of buying and selling. During the identical preliminary five-minute window, promote orders shall be blocked if priced 10% or extra under or 100% or extra above the reference value. Like Upbit, Bithumb will allow only limit orders for roughly two hours after buying and selling opens.
Exchange Listings Drive Sharp Moves in SKR and ESP
The listings triggered notable price movements in both tokens. Data exhibits that SKR, the native token of the Solana Mobile ecosystem, rose greater than 62% following the announcement.
The day by day buying and selling quantity elevated by over 700%, with Bithumb accounting for about 33% of complete exercise, based on CoinGecko data. The figures recommend elevated buying and selling curiosity from the South Korean market.
ESP additionally recorded important positive factors, climbing greater than 50% and reaching a brand new all-time high of $0.16. The token was launched earlier this month, making it a current entrant to the market. ESP serves as the native token of the Espresso Network.
Espresso Network is a blockchain protocol that gives a shared sequencing and affirmation layer for rollups and different chains. It goals to enhance scalability and interoperability by coordinating transaction ordering throughout a number of networks.
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