On Sept. 19, Upbit announced that it will list four altcoins — ETHFI, RESOLV, INIT, and SPK — with trading pairs against Tether (USDT) and Bitcoin (BTC). Trading is scheduled to go live today at 3:00 p.m. KST (6:00 a.m. UTC), with deposits and withdrawals already enabled.
Only KYC-verified users can make deposits, and for larger deposits, senders will be required to provide documentation verifying the source of funds.
ETHFI, RESOLV, and SPK will support deposits and withdrawals on the Ethereum network, while INIT transactions will be limited to the Initia network.
To ensure a smooth rollout, Upbit will apply temporary restrictions at launch. Buy orders will be blocked for the first five minutes of trading, and sell orders priced more than 10% below the previous day’s closing price will also be restricted during that time.
After the initial five-minute freeze, trading will remain limited to limit orders only for the first two hours.
RESOLV price rallies on listing news
As South Korea’s largest crypto exchange, Upbit listings often trigger sharp price movements, typically skewed to the upside.
Of the four tokens listed today, Resolv (RESOLV) led gains, climbing over 6% in the past 24 hours. Initia (INIT) followed with a 4.75% increase, while Spark (SPK) rose around 2.5%. Ether.fi (ETHFI), which briefly spiked on the news, was the only laggard, slipping 0.37%.
That said, history shows that many tokens tend to surrender early gains in the hours after a spot listing, as speculative momentum cools and initial hype fades.
Upbit unveils Ethereum Layer 2
The listings arrive just days after Upbit introduced GIWA Chain, an Ethereum Layer-2 built on the Optimism OP Stack. The exchange says GIWA will mark its entry into blockchain infrastructure, offering one-second block times and full EVM compatibility.
