South Korea's major cryptocurrency exchanges, Upbit and Bithumb, have expanded their offerings by listing four new altcoins, resulting in immediate price increases and heightened trader interest. Upbit listed the ZORA token, which began trading at 13:30 KST against KRW, BTC, and USDT on the Base network. The exchange implemented temporary restrictions, including limited buy orders for the first five minutes and blocked sell orders 10% below the previous closing price, to ensure stability. Despite this, ZORA's price surged 17%, rising from around $0.094 to $0.11 shortly after the announcement.
ZORA's ecosystem has gained attention with the launch of creator coins on the Base network and the Believe Fund, which allocates 20 million ZORA tokens to support creators. However, an upcoming token unlock on October 30 could introduce volatility, as 166.67 million ZORA tokens are set to be released.
Meanwhile, Bithumb added three tokens: Infinit (IN), Doodles (DOOD), and YieldBasis (YB). Trading for IN and DOOD started at 4:00 PM KST, with YB following at 5:00 PM KST. The listings led to price gains: IN increased by 6.78%, DOOD by 8.37%, and YB by 8.41%. These altcoins focus on decentralized finance (DeFi), NFT creativity, and yield optimization, respectively, broadening Bithumb's portfolio.
The market reaction underscores growing interest in these assets, with increased trading volume expected. While initial responses are positive, short-term volatility may occur as the market adjusts to the new listings and upcoming token events.
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