Upbit’s Latest Listings Trigger Double-Digit Price Surges in Two Altcoins

Upbit, South Korea’s largest cryptocurrency exchange, has announced the listing of two new altcoins. The platform confirmed it will add spot trading support for Seeker (SKR) and Espresso (ESP).

In addition, Bithumb will also list ESP today. Following the listing announcements, both tokens recorded strong gains, with prices surging by double digits as trading interest accelerated.

Upbit and Bithumb Expand Offerings With New Token Listings 

According to Upbit’s notice, SKR will be available to trade against three pairs: Korean Won (KRW), Bitcoin (BTC), and Tether (USDT). The exchange will open spot trading at 16:00 Korean Standard Time (KST) on February 24 and enable deposits and withdrawals within 90 minutes of the announcement.

“Deposits and withdrawals are supported only through the specified network (SKR-Solana). Please verify the network before making a deposit. The contract address for SKR supported by Upbit is: SKRbvo6Gf7GondiT3BbTfuRDPqLWei4j2Qy2NPGZhW3. Please confirm the contract address when depositing or withdrawing SKR,” the exchange added.

In a separate notice, Upbit announced support for ESP in the KRW, BTC, and USDT markets. Trading is scheduled to begin at 17:00 KST today.

Bithumb also announced the addition of ESP in its KRW market. The exchange stated that deposits and withdrawals will open within two hours of the announcement, with trading scheduled for 17:00 KST on February 24. The exchange set the reference price at 149 KRW.

Both exchanges outlined temporary restrictions designed to manage volatility during the initial trading period. Upbit will restrict buy orders for approximately five minutes after trading begins. 

Sell orders priced 10% or more below the previous day’s closing price will also be restricted for about five minutes. Additionally, the exchange will permit only limit orders for approximately two hours after trading support begins.

Bithumb will similarly restrict buy orders for five minutes following the start of trading. During the same initial five-minute window, sell orders will be blocked if priced 10% or more below or 100% or more above the reference price. Like Upbit, Bithumb will allow only limit orders for roughly two hours after trading opens.

Exchange Listings Drive Sharp Moves in SKR and ESP

The listings triggered notable price movements in both tokens. Data shows that SKR, the native token of the Solana Mobile ecosystem, rose more than 62% following the announcement. 

The daily trading volume increased by over 700%, with Bithumb accounting for approximately 33% of total activity, according to CoinGecko data. The figures suggest elevated trading interest from the South Korean market.

ESP also recorded significant gains, climbing more than 50% and reaching a new all-time high of $0.16. The token was launched earlier this month, making it a recent entrant to the market. ESP serves as the native token of the Espresso Network.

Espresso Network is a blockchain protocol that provides a shared sequencing and confirmation layer for rollups and other chains. It aims to improve scalability and interoperability by coordinating transaction ordering across multiple networks.