South Korea's leading cryptocurrency exchange Upbit announced the listing of Omni Network (OMNI) on its KRW trading market, with trading commencing on July 29, 2025, at 18:30 local time. The listing triggered an immediate 175% price surge for OMNI, reaching $6.82 according to market data, showcasing the powerful 'Upbit Effect' where listings on the exchange historically drive significant price movements due to access to South Korea's active crypto market.
Upbit implemented specific trading restrictions: buy orders were temporarily limited during the first 5 minutes, sell orders 10% below the previous day's closing price were blocked within the initial 5 minutes, and only limit orders were accepted for the first 2 hours. The exchange exclusively supports OMNI transactions via the Ethereum network (contract address: 0x36e66fbbce51e4cd5bd3c62b637eb411b18949d4), with mandatory fund source verification for large transfers from unknown wallets.
Omni Network addresses Ethereum ecosystem fragmentation through its Layer 1 blockchain, utilizing Dual Chain Architecture and Integrated Consensus technologies to enable secure interoperability between rollups. The OMNI token facilitates transaction fees, staking, delegation, and governance within the network. While the listing enhances OMNI's visibility and liquidity, analysts caution that such post-listing surges often face corrections from profit-taking, with long-term sustainability dependent on project execution and broader market conditions.