South Korean cryptocurrency exchange Upbit is expanding its non-KRW markets with eight new trading pairs covering Biconomy (BICO), Bubblemaps (BMT), Nillion (NIL), and ETHGas (GWEI).
Each token will receive both a Bitcoin (BTC) pair and a Tether (USDT) pair, giving Korean traders additional access to the four assets.
Upbit Delays Launch by Three Hours
The markets were initially scheduled to open at 1:00 p.m. KST on Aug. 21, but Upbit later postponed the launch to 4:00 p.m. KST, according to an updated exchange notice.
Upbit did not provide a detailed explanation for the three-hour delay. The exchange apologized for the change and warned that trading could be postponed again if deposits do not generate sufficient liquidity before the revised launch.
The exchange’s latest notice should therefore be treated as the authoritative schedule.
Different Networks Required for Deposits
Upbit has specified the blockchain networks that traders must use when depositing the newly listed tokens.
- BICO: Ethereum
- NIL: Ethereum
- GWEI: Ethereum
- BMT: Solana
Deposits made through unsupported networks will not be credited automatically. Users should verify both the token contract address and blockchain network before transferring funds, as incorrectly routed assets may be difficult or impossible to recover.
Upbit may also request additional information for large deposits. Transfers involving platforms that do not satisfy its Travel Rule requirements could be subject to additional verification before funds are credited.
Temporary Trading Restrictions Will Apply
The newly listed markets will initially operate under additional safeguards designed to manage volatility and limited liquidity.
Upbit plans to restrict certain buy orders during the first few minutes of trading. It will also temporarily limit sell orders priced significantly below the applicable reference price.
For approximately two hours after launch, only limit orders will be available. Other order types will become accessible once the temporary restrictions are lifted.
These measures are intended to reduce disorderly trading during the early stages of a new listing, but they do not guarantee price stability or protect traders from losses.
Four Projects Join Upbit’s Expanding Altcoin Markets
The four projects represent different areas of the blockchain ecosystem.
Biconomy develops infrastructure focused on simplifying blockchain interactions through account and chain abstraction, with BICO used within its ecosystem.
Bubblemaps provides blockchain visualization tools that help users analyze token ownership and relationships between wallet addresses. BMT supports activities and incentives within its platform.
Nillion focuses on privacy-preserving computing and infrastructure for sensitive data, including applications involving artificial intelligence. NIL is used for network payments, staking and node incentives.
ETHGas is developing infrastructure around Ethereum blockspace and transaction preconfirmations. GWEI is used for governance and staking within the ecosystem.
Listing Does Not Guarantee Price Gains
Upbit listings can attract significant trading activity because the exchange provides access to a large South Korean user base. However, previous listings have produced mixed results, with some tokens experiencing sharp price increases while others declined after the initial launch.
The addition of new markets should therefore not automatically be interpreted as a bullish signal for BICO, BMT, NIL or GWEI.
The immediate focus will be on whether the four assets can establish sufficient liquidity following the delayed launch.
With Upbit leaving open the possibility of another postponement, traders will need to monitor the exchange’s latest announcements rather than rely on the original 1:00 p.m. schedule.
