Upbit Lists 9 Altcoins Today: Will ‘Upbit Effect’ Trigger Another Rally?
Highlights
- Upbit will list 9 altcoins across its BTC and USDT markets on June 19.
- PEAQ led the gains after the announcement, surging nearly 22%.
- Traders are watching if the latest Upbit listing can trigger another 'Upbit Effect.'
The latest Upbit Listing has put nine altcoins in the spotlight as South Korea’s largest crypto exchange prepares to add them across its Bitcoin (BTC) and Tether (USDT) markets on June 19. Traders are now watching closely to see whether the so-called “Upbit Effect” will once again spark strong rallies in newly listed tokens.
According to Wu Blockchain, South Korea’s largest crypto exchange Upbit will list PEAQ, LIT, KMNO, MORPHO, GRAM, LDO, PAXG, OSMO, and AMP in its BTC and USDT markets, with trading scheduled to begin at 15:00 local time on June 19.
Upbit Listing Expands BTC & USDT Markets
The Upbit Listing will take place in phases between 3 PM and 7 PM Korea Standard Time (KST). PEAQ and Litentry (LIT) will begin trading at 3 PM KST. Kamino Finance (KMNO) and Morpho (MORPHO) will follow at 4 PM. GRAM, which recently rebranded from Toncoin, will start trading at 5 PM.
At 6 PM, Upbit will launch support for Lido DAO (LDO) and PAX Gold (PAXG). Osmosis (OSMO) and AMP will be the final additions at 7 PM. While most tokens will have both BTC and USDT trading pairs, AMP will trade only against USDT. The South Korea crypto exchange said deposits would open within three hours of the notice.
Upbit Introduces Temporary Trading Restrictions
To control volatility, Upbit has announced temporary restrictions for the newly listed assets. Buy orders will not be allowed during the first five minutes after trading starts. Sell orders priced more than 10% below the previous day’s closing price will also be restricted.
In addition, only limit orders will be allowed for around two hours after trading begins. The exchange also warned users to deposit assets only through supported blockchain networks, saying deposits sent through unsupported networks may face delays or become difficult to recover.
The emphasis on safe transfers comes at a time when security remains a major concern for the crypto industry, with recent reports warning that North Korea-linked cyberattacks continue to pose a growing threat to digital asset platforms and investors.
Will the Upbit Effect Return?
The market has already reacted to the announcement. Among the newly listed Upbit altcoins, PEAQ posted the strongest gains, jumping nearly 22% after the news, and its trading volumeincreased by close to 300% in the span of 24 hours. KMNO also moved higher, while several other tokens saw only modest price increases.
Now, traders are watching whether this Upbit Listing can recreate the famous Upbit Effect, where new listings on the exchange trigger strong buying momentum and sustained rallies across selected altcoins.
The timing is particularly important as the broader crypto market is bracing for heightened volatility ahead of a major Bitcoin, ETH, XRP, and SOL options expiry following the latest triple witching event.
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