South Korea's Upbit Lists Two New Altcoins, Sparking Price Surges

Upbit, a leading South Korean cryptocurrency exchange, has expanded its offerings with the listing of two new altcoins: Seeker (SKR) and Espresso (ESP). The listings have sparked notable price movements in both tokens, with SKR rising over 62% and ESP climbing more than 50%. The exchanges have implemented temporary restrictions to manage volatility during the initial trading period.

Upbit will support spot trading for SKR against three pairs: Korean Won (KRW), Bitcoin (BTC), and Tether (USDT). Trading is scheduled to begin at 16:00 KST on February 24, with deposits and withdrawals opening within 90 minutes. Bithumb has also listed ESP in its KRW market, with trading set to start at 17:00 KST today.

The listings have driven up trading interest, with SKR's daily volume increasing by over 700%. Both exchanges have implemented restrictions on buy and sell orders during the initial trading period to manage volatility. The temporary measures aim to prevent sharp price movements and ensure a smooth market entry for the new tokens.