South Korea’s leading crypto exchanges moved to broaden their token offerings on February 24, adding new spot markets for Seeker (SKR) and Espresso (ESP) as investor demand accelerated. Upbit confirmed trading support for both assets, while Bithumb also introduced ESP to its platform. Consequently, both tokens posted sharp double-digit gains as liquidity expanded across major Korean markets.
Upbit Adds SKR and ESP Markets
Upbit introduced SKR trading pairs against KRW, BTC, and USDT earlier today. The exchange opened spot trading at 16:00 KST and activated deposits and withdrawals shortly after the notice. Additionally, Upbit listed ESP in the same three markets, with trading beginning at 17:00 KST.
SKR serves as the native token of the Solana Mobile ecosystem. It supports the second-generation Web3 smartphone known as Seeker. Besides enabling ecosystem participation, SKR aims to expand mobile-focused blockchain utility.
Upbit instructed users to verify the Solana network before depositing SKR. The exchange limited transactions to the designated Solana contract address. Hence, traders had to confirm technical details before moving funds.
Bithumb Expands KRW Market With ESP
Bithumb followed with its own ESP listing in the KRW market. The exchange opened deposits and withdrawals within hours of its announcement. Trading also started at 17:00 KST, matching Upbit’s schedule.
Both platforms implemented temporary safeguards to manage volatility. Upbit restricted buy orders for five minutes after trading began. It also blocked sharply discounted sell orders during the same window. Moreover, it allowed only limit orders for roughly two hours.
Bithumb adopted similar controls. The exchange paused aggressive buy activity for five minutes. It also restricted sell orders priced far below or above its reference price. Consequently, both exchanges aimed to reduce sudden price swings during the debut session.
Prices Surge After Listings
Market reaction remained strong throughout the day. SKR traded near $0.02689, marking a 46.75% daily gain. Weekly performance showed a 23.78% rise. Trading volume exceeded $135 million, reflecting heightened demand. Its market capitalization stood above $152 million.
ESP recorded even stronger momentum. The token traded near $0.1676, climbing 52.99% in 24 hours. Over seven days, ESP advanced 183.73%. Volume surpassed $309 million, while its market value approached $87 million.
Source: https://coinpaper.com/14880/upbit-and-bithumb-list-skr-and-esp-tokens-surge-over-50