Upbit Drops 9 Tokens Like Confetti, Market Catches Exactly Some of Them 🎉

Upbit, South Korea's largest crypto exchange, will list nine digital assets across its Bitcoin ($BTC) and Tether ($USDT) markets on June 19 in a staggered four-hour rollout beginning at 3 PM Korea Standard Time. The South Korean exchange will open trading in hourly windows from 3 PM to 7 PM KST. PEAQ and LIT will trade first at 3 PM, followed by Kamino Finance (KMNO) and Morpho (MORPHO) at 4 PM, Gram (GRAM) at 5 PM, Lido DAO (LDO) and PAX Gold (PAXG) at 6 PM, and Osmosis (OSMO) and AMP at 7 PM. Each token will gain both $BTC and $USDT pairs except AMP, which will trade only against $USDT. Upbit said deposits will open within three hours of the notice.

The exchange outlined short-term trading curbs tied to each token's launch. For the first five minutes after trading opens, traders cannot place buy orders, and sell orders priced more than 10% below the previous day's closing value will be blocked. Limit orders will be the only order type permitted for approximately two hours after trading support begins. Upbit also warned users about network compatibility, stating, "Deposits and withdrawals are supported only on the specified networks. Deposits sent through unsupported networks may not be recoverable and can require lengthy return procedures."

Prices across the nine tokens diverged sharply after the announcement, even as the broader crypto market weakened under macroeconomic pressure. PEAQ led the group with a 21.90% gain, while KMNO added 2.79%, OSMO rose 1.74%, LDO gained 1.07%, and AMP and MORPHO edged up 0.76% and 0.65%, respectively. GRAM was the worst performer, falling 2.75%, while LIT slipped 1.68% and PAXG closed the session down 0.42%.