TLDR
- Upbit lists ETHFI, RESOLV, INIT, SPK with strict rules and BTC/USDT pairs
- New altcoins on Upbit: ETHFI, RESOLV, INIT, SPK trade live under limits
- Upbit adds 4 tokens, enforces 2-hour trading rules to curb volatility
- ETHFI, RESOLV, INIT, SPK debut on Upbit with KYC and deposit controls
- Upbit expands listings with ETHFI, RESOLV, INIT, SPK amid GIWA launch
Upbit has added four new altcoins, including Ether.fi (ETHFI), Resolv (RESOLV), Initia (INIT), and Spark (SPK) to its trading platform. The exchange enabled trading pairs against Bitcoin (BTC) and Tether (USDT) starting at 3:00 p.m. Korea Standard Time. This move follows a recent trend of altcoin launches aimed at boosting platform engagement and liquidity.
Trading Now Live with Restrictions
Upbit confirmed that users can now trade ETHFI, RESOLV, INIT, and SPK, but under strict trading conditions. Buy orders remain blocked during the initial five minutes after trading begins to avoid immediate price manipulation. Simultaneously, sell orders priced more than 10% below the last day’s closing price are restricted.
Following this 5-minute window, users can only place limit orders during the next two hours of trading. This restriction aims to ensure price discovery and control extreme volatility. Upbit applied these temporary rules uniformly across all four listed tokens.
All deposits are now open, yet only users with completed Know Your Customer (KYC) verification can deposit these assets. Additionally, large deposit amounts will require documented proof of fund origin. These requirements align with Upbit’s compliance policies and risk-control frameworks.
Network Support and Price Movement
Upbit announced that three of the new altcoins, ETHFI, RESOLV, and SPK, will be supported on the Ethereum network. INIT deposits and withdrawals, however, will only be supported through the Initia network, ensuring seamless integration with its native chain. These specifications are now in effect across Upbit’s wallet infrastructure.
Before the official trading started, RESOLV recorded the highest price gain, rising over 6% in the last 24 hours. INIT and SPK also saw moderate upward momentum, while ETHFI posted slight losses despite a short-lived rally. These price swings reflect strong speculative sentiment often triggered by Upbit listings.
Although initial spikes are common, prior listings have shown that prices often retreat after the launch hype fades. As such, early momentum should be observed over time to assess sustained performance. Upbit has not provided further guidance on future listing expansions.
Strategic Expansion and GIWA Launch
Upbit’s decision to list these altcoins comes shortly after it launched GIWA Chain, its own Ethereum layer-2 network. Built using the Optimism OP Stack, GIWA aims to offer one-second block finality and EVM compatibility. This marks Upbit’s move beyond exchange services into blockchain infrastructure.
GIWA positions Upbit to support faster, cost-efficient transactions while attracting decentralized applications. With this development, Upbit demonstrates its intent to scale its ecosystem and compete in the broader Web3 space. The timing of the new listings supports user activity around the GIWA launch.
Upbit continues to lead the South Korean crypto market in volume, listings, and technological growth. The addition of ETHFI, RESOLV, INIT, and SPK reflects a coordinated push to widen its altcoin portfolio. With network support, new restrictions, and infrastructure investments, Upbit reinforces its dominance in the region.
