Upbit Expands Market With Four New Altcoin Listings

South Korea’s largest cryptocurrency exchange, Upbit, has announced four new altcoin listings today. Ether.fi (ETHFI), Resolv (RESOLV), Initia (INIT), and Spark (SPK) all saw modest price increases post the announcement. 

The exchange noted that trading support will begin today at 15:00 Korean Standard Time (KST). Furthermore, deposits and withdrawals will start within two hours of the announcement.

Four Altcoins Will Join Upbit Today

According to the official announcement, the four altcoins will be available to trade against Tether (USDT) and Bitcoin (BTC). Furthermore, Upbit added that ETHFI, RESOLV, and SPK will be supported on the Ethereum (ETH) network. Meanwhile, INIT will be supported on the Initia network. 

“The SPK supported today is a different asset from the SPARK previously airdropped by Upbit,” the announcement reads.

Upbit has implemented temporary restrictions to ensure market stability during the initial phase of trading. Buy orders will be suspended for approximately five minutes after launch.

The exchange will also restrict sell orders priced more than 10% below the previous day’s closing price for the same period. For the first two hours, Upbit will only permit limit orders.

Ahead of the official launch, the four tokens are already showing activity in secondary markets. ETHFI climbed from $1.61 to $1.69, marking an approximately 5% increase. At the time of writing, it settled at $1.65 at press time, up 2.6% since Upbit’s announcement.

RESOLV saw the highest gains of 11.4%, advancing from $0.158 to $0.176. It was last trading at $0.16, still 1.8% higher. INIT rose from $0.39 to $0.43. This represented a 10.26% jump, before easing back to $0.39, maintaining a 1.1% uptick.

Lastly, SPK moved from $0.061 to $0.067, an increase of 9.84%, and was priced at $0.062 at press time, up 2.4%. The moderate gains highlight investor anticipation ahead of the tokens’ official listing.

ETHFI, RESOLV, INIT, and SPK Price Performance. Source: TradingView

Notably, the listing of these four altcoins comes amid a busy period for major exchanges. On September 18, Upbit listed Lombard (BARD), joining other global platforms in supporting the token.

Coinbase also launched BARD-USD spot trading the same day. Finally,  Bithumb added trading support for BARD against the Korean Won.

Despite these listings, BARD’s performance has been volatile. BeInCrypto Markets data showed that the token dropped 45% over the past 24 hours, with trading activity dominated by Upbit and Binance.