Upbit’s Altcoin Surge: A Digital Symphony of Gains!

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In the hushed corridors of Seoul’s financial realm, the titan of crypto exchanges, Upbit, has unveiled its latest conquests: Seeker (SKR) and Espresso (ESP). A spectacle of digital alchemy, where tokens transform into gold under the gaze of traders.

Meanwhile, Bithumb, ever the rival in this digital ballet, also welcomed ESP into its fold. The market, a fickle lover, now sways with the rhythm of double-digit gains, as if the very air hums with speculative fever.

Upbit and Bithumb Expand Offerings With New Token Listings 

According to Upbit’s notice, SKR shall dance upon the KRW, BTC, and USDT stages, its price a waltz of volatility. The exchange, a meticulous choreographer, sets the curtain to rise at 16:00 KST on February 24, with deposits and withdrawals as fleeting as a whisper.

“Beware, ye who deposit, for the network is Solana’s, and the contract address is a labyrinth of letters and numbers. Verify, lest ye lose thy tokens in the void,” the exchange warns, its tone as grave as a medieval scribe.

In a separate notice, Upbit announced ESP’s debut in the KRW, BTC, and USDT markets. Trading, a grand masquerade, begins at 17:00 KST today, while Bithumb, ever the opportunist, sets its own stage for ESP’s KRW debut.

Bithumb, with a nod to tradition, sets the reference price at 149 KRW-a number as arbitrary as the moon’s phases. Both exchanges, like wary shepherds, tether the wild beasts of market frenzy with temporary restraints: buy orders blocked for five minutes, sell orders priced 10% below or above the previous day’s close met with stern glances.

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. A marvel of modern engineering, or perhaps just another fleeting trend in the ever-churning sea of crypto.

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2026-02-24 10:56