The privacy-focused cryptocurrency Aztec (AZTEC) has experienced a dramatic 82% price surge, propelled by its recent listings on two of South Korea's largest cryptocurrency exchanges, Upbit and Bithumb. The token was listed with Korean Won (KRW) trading pairs on February 20, triggering a rapid price increase to $0.0395.
The immediate aftermath of the listings saw trading volume spike by 157% to reach $457 million, a phenomenon partly attributed to the "kimchi premium"—a term describing the higher prices for cryptocurrencies on South Korean exchanges due to intense local retail demand and thin order books. At the time of analysis, AZTEC was trading near $0.0372 with a market capitalization of approximately $94 million.
This rally is particularly notable as it follows the token's public launch just days earlier on February 12, at an initial price of $0.02. Despite the explosive move, the current price remains roughly 20% below the token's November public sale level, indicating lingering overhead supply pressure.
From a technical perspective, analysts note that holding above the $0.032 support level is critical for maintaining the immediate bullish structure. A decisive breakout above the $0.042 resistance could potentially open a path toward a price range of $0.055 to $0.082 in 2026. Conversely, a drop below $0.025 could signal a full unwind of the kimchi premium and a potential retest of the launch range between $0.019 and $0.021.
Fundamentally, Aztec is a privacy infrastructure project that utilizes zkSNARKs to encrypt transaction details. It is backed by $178 million in funding from prominent investors including Paradigm, Andreessen Horowitz (a16z), and Ethereum co-founder Vitalik Buterin. A key feature of its protocol is a 200,000 AZTEC sequencer requirement, which could drive validator demand. Currently, only 28% of the total token supply is in circulation, with the remaining 72% locked under 12-month restrictions extending through February 2027.
The project faces challenges, including the previous shutdown of its Aztec Connect service in 2023 due to declining usage. Privacy protocols have historically captured a limited share of the total value locked (TVL) in decentralized finance, with adoption often concentrated in niche segments.
