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- Major Korean exchange listings triggered sharp price jumps in SKR and ESP.
- Strong regional trading activity highlights South Korea’s market influence.
- Long-term value will depend on adoption beyond listing-driven hype.
South Korea’s crypto market drew fresh attention on February 24 after major exchanges expanded their listings, triggering sharp rallies in two emerging tokens. Upbit confirmed it would add spot trading for Seeker (SKR) and Espresso (ESP), while rival platform Bithumb announced support for ESP on the same day. The coordinated listings quickly boosted trading activity and pushed both assets higher, underscoring the influence of Korean exchanges on altcoin momentum.
New Listings Expand Market Access
Upbit said SKR will trade against the Korean won, Bitcoin, and USDT, with deposits and withdrawals opening shortly after the announcement and trading beginning later in the afternoon local time. The exchange also confirmed that SKR transactions will operate on the Solana network, urging users to verify addresses carefully before transfers.
In a separate update, Upbit revealed plans to launch ESP trading across the same three markets. Bithumb followed with its own ESP listing, giving the token exposure to one of Asia’s most active retail trading bases. Both exchanges introduced short-term safeguards such as temporary order restrictions and limit-only trading windows, measures commonly used to reduce volatility when new assets debut.
Listings Trigger Strong Market Reaction
The announcements sparked immediate price jumps. SKR climbed more than 60% after news of the listing, accompanied by a surge in trading volume that signaled strong speculative demand. Market data showed a notable share of activity coming from South Korean traders, highlighting the region’s role in driving short-term price swings.
ESP also rallied sharply, rising over 50% and setting a new record price shortly after trading interest accelerated. The token belongs to the Espresso Network, a project focused on improving scalability and cross-chain coordination by providing a shared sequencing layer for rollups and other networks.
Also Read: Upbit Delists Loopring While Tokenized Gold Explodes Past $6B — What It Means for Crypto
Why Korean Listings Still Matter
Listings on large Korean exchanges have historically influenced crypto prices, as local traders often respond quickly to new opportunities. The SKR and ESP moves reinforce how exchange support can rapidly increase liquidity, visibility, and speculative interest for newer tokens.
The debut of SKR and ESP on leading South Korean platforms highlights how exchange listings remain a powerful catalyst in the altcoin market. While the initial price spikes may reflect short-term enthusiasm, the longer-term outlook will depend on whether both projects can convert trading buzz into sustained adoption and real-world utility.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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