Upbit, Korea’s largest cryptocurrency exchange, today announced four new Altcoin lists. Ether.fi (Ethfi), Resolv (Resolv), Initia (init) and Spark (SPK) all saw a modest price increase after the announcement.
The exchanges noted that trading support begins today at 15:00 Standard Time (KST) in Korea. Additionally, deposits and withdrawals will begin within two hours of the announcement.
Four altcoins join Upbit today
According to the official announcement, four altcoins can compete against Tether (USDT) and Bitcoin (BTC). Additionally, Upbit added that Ethfi, Resolv and SPK will be supported on Ethereum (ETH) networks. On the other hand, INIT is supported on INIIA networks.
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“The SPKs supported today are different assets from Sparks that were previously air-administered via Upbit,” the announcement reads.
Upbit has implemented temporary restrictions to ensure market stability during the early stages of trading. Purchase orders will be suspended for approximately 5 minutes after release.
The exchange also limits sales orders that fall 10% or more below the previous day’s closing price in the same period. For the first 2 hours, Upbit only allows restricted orders.
Prior to the official launch, the four tokens have already shown activity in the secondary market. Ethfi rose from $1.61 to $1.69, showing an increase of about 5%. At the time of writing, it has risen 2.6% since the release of Upbit, and settled at $1.65 at press.
Resolv saw the highest profit of 11.4% and went from $0.158 to $0.176. The last trade was $0.16, but still 1.8% higher. INIT rose from $0.39 to $0.43. This represented a 10.26% jump, then returned to $0.39, maintaining a 1.1% increase.
Finally, SPK moved from $0.061, an increase of 9.84% to $0.067, up 2.4% at $0.062 at press. Moderate profits underscore investors’ expectations ahead of the official listing of tokens.
In particular, these four altcoins lists are in busy times for major exchanges. On September 18th, Upbit listed Lombard (Bard) and joined other global platforms supporting tokens.
Coinbase also launched Bard-USD Spot Trading on the same day. Finally, Bithumb added Bard’s trading support for Koreans.
Despite these lists, Bard’s performance was volatile. Data from Beincrypto Markets showed that tokens have declined by 45% over the last 24 hours, with trading activity being dominated by Upbit and Binance.
