Key Takeaways:
Upbit will list BICO, BMT, NIL, and GWEI against BTC and USDT on Aug. 21, with ETHGas rising 11.75% to lead the four tokens.
The exchange said in a notice that deposits and withdrawals will open within two hours, supported only through specified networks. "Always check the network before depositing," Upbit said.
GWEI led the market reaction, rising 11.75% against the dollar on Kraken following the announcement. BMT gained 7.48%, BICO climbed 7.35%, and NIL rose 5.11%. Trading volume increased across all four, with GWEI's 24-hour volume jumping 197.7% to $11.1 million, BICO reaching $34.5 million (up 46.7%), BMT at $12 million (up 25.7%), and NIL at $14.6 million (up 21.4%), according to CoinGecko data.
Upbit is applying standard launch restrictions: buy orders will be restricted for approximately five minutes after trading begins, sell orders priced 10 percent or more below the previous day's closing price will be restricted during that period, and only limit orders will be available for about two hours. Whether the four tokens hold these gains past 1 p.m. KST is the open question — earlier Upbit debuts this month lifted Cysic (CYS) by 32 percent and AIOZ Network (AIOZ) by 12.6 percent, but many listing pumps fade once the initial bid clears.
The four tokens serve distinct functions in the blockchain ecosystem. Biconomy provides transaction relay and account abstraction tools for decentralized applications, enabling gasless transactions and smart account features. Bubblemaps is a visual analytics platform for investigating token holdings and supply distribution across multiple chains, used by traders and researchers to identify potential whale activity. Nillion is a decentralized computation network focused on privacy-preserving technologies for AI, healthcare, and finance. GWEI is a liquid staking token from Ether.fi representing staked ETH, allowing users to earn staking rewards while maintaining liquidity.
Upbit did not announce Korean won trading pairs for any of the four tokens. The exchange's decision to list a liquid staking token like GWEI reflects growing acceptance of staking products in the Korean market, which has historically favored retail-driven trading. The inclusion of infrastructure and analytics projects like BICO and BMT also points to Upbit's interest in supporting the broader ecosystem rather than purely speculative assets.
The listing pattern mirrors recent Upbit activity. Six new listings earlier this month produced similar initial rallies, with Cysic rising 32 percent and AIOZ Network gaining 12.6 percent. Whether these four tokens sustain their momentum depends on whether Korean retail traders maintain interest beyond the opening session. South Korea's regulatory framework for digital assets adds a layer of compliance that could affect the availability of these tokens if rules change.
This article is for informational purposes only and does not constitute investment advice.
