Upbit Lists 9 Altcoins: Price Swings Across Crypto Market

The listing sequence begins with PEAQ and LIT at 3 PM KST, followed by Kamino Finance (KMNO) and Morpho (MORPHO) at 4 PM. Gram (GRAM), which recently rebranded from Toncoin, opens at 5 PM, while LDO and PAXG begin at 6 PM. Osmosis (OSMO) and AMP close the rollout at 7 PM. Each token will gain both BTC and USDT pairs, except AMP, which will trade only against USDT. As reported by Upbit, deposits will open within three hours of the notice with short-term trading restrictions applied. According to crypto.news, the tokens will receive "new trading support" in BTC and USDT markets, with the listing giving Korean traders more access to assets from several crypto sectors.

Following the announcement, all altcoins experienced immediate but varied price volatility, with reactions mixed as the market responded to the listing news. According to trading data, PEAQ emerged as the strongest performer with a 21.90% increase at press time. KMNO added 2.79%, while OSMO rose 1.74% and LDO gained 1.07%. AMP and MORPHO edged up 0.76% and 0.65% respectively. However, some tokens declined, with GRAM falling 2.75% to become the weakest performer, and LIT slipping 1.68%. The immediate price swings across the nine altcoins demonstrate the market's sensitivity to major exchange listings and the varied investor sentiment toward different tokens. As noted by crypto.news, listing-related price moves do not always last, with tokens often seeing early demand after major exchange listings but prices later adjusting as liquidity grows and traders take profits.

As reported by Upbit, the exchange will implement several trading restrictions for the first five minutes after trading opens, including a ban on buy orders and blocked sell orders priced more than 10% below the previous day's closing value. The exchange will also permit only limit orders for approximately two hours after trading support begins. Additionally, Upbit emphasized that deposits and withdrawals are supported only on specified networks, warning that deposits sent through unsupported networks may not be recoverable and can require lengthy return procedures. According to crypto.news, the latest notice points to BTC and USDT markets, not Korean won pairs, meaning the listed tokens will trade against Bitcoin and Tether on Upbit rather than directly against the Korean won. Traders often need to confirm the correct network before sending funds, with the exchange implementing controls around launch including limits on some order types.

The immediate price swings across the nine altcoins occurred against a backdrop of pressure across the digital asset market and broader macroeconomic concerns. According to market reports, Bitcoin and the broader crypto market have fallen as macroeconomic fears weigh on risk appetite, contributing to the varied performance of the newly listed tokens on Upbit. The listing represents Upbit's continued expansion of its token offerings despite challenging market conditions, with the immediate price movements highlighting the market's sensitivity to major exchange developments and the varied investor sentiment toward different altcoin projects. As reported by crypto.news, the listing also comes as several of the assets have seen separate updates, including Morpho raising $175 million at a roughly $2 billion valuation and Lido DAO proposing a phased LDO buyback using treasury stETH. Pax Gold has also appeared in wider tokenized gold coverage, with Wintermute adding tokenized gold products including PAXG to its institutional OTC offering.