Upbit announced 4 new altcoin listings today. The exchange will open trading for Biconomy (BICO), Bubblemaps (BMT), Nillion (NIL), and ETHGas (GWEI). 

South Korea’s largest exchange set trading to begin at 1 p.m. Korea Standard Time (KST). All four tokens moved higher after the notice.

Upbit Listing Confirmation Sends 4 Altcoins Sharply Higher

GWEI led the market reaction, rising 11.75% against the dollar on Kraken following the announcement. BMT gained 7.48%, while BICO climbed 7.35% on their respective Binance Tether (USDT) pairs over the same period.

NIL posted the smallest gain among the four tokens, up 5.11% at press time.

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Trading activity climbed alongside the prices, and GWEI led again. According to CoinGecko, ETHGas’ trading volume jumped 197.70% to $11.1 million over 24 hours, the sharpest increase of the four.

BICO followed with $34.5 million, up 46.70%. BMT handled $12 million, a 25.70% gain, while NIL recorded $14.6 million, up 21.40%.

Meanwhile, the pattern here is familiar. Six new Upbit listings earlier this month lifted Cysic (CYS) by 32% and AIOZ Network (AIOZ) by 12.6%.

Upbit Applies Standard Opening Restrictions

The exchange will list all four tokens against Bitcoin (BTC) and USDT. Upbit did not announce Korean won (KRW) trading pairs.

Deposits and withdrawals will open within two hours of the notice being published.

“Deposits and withdrawals are supported only through the networks specified in this announcement. Always check the network before depositing,” the exchange said.

Upbit is also applying its standard launch restrictions. Buy orders will be restricted for approximately five minutes after trading begins. 

Sell orders priced 10% or more below the previous day’s closing price will also be restricted during that period. For approximately two hours after launch, only limit orders will be available.

Whether the four hold these gains past 1 p.m. KST is the open question. Earlier Upbit debuts have often faded once the initial listing bid clears.

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Source: BeInCrypto