Upbit, Korea’s largest crypto change, is actively increasing, including virtually one new token a day in September. Analysts say the technique is geared toward defending home market benefits as rival Bitham narrows the hole to inside 5%.
Through the race, the Senate additionally surged to highs, sparking issues over investor safety.
Upbit raises lists and protects market leads
On Wednesday, Upbit listed Linea (Linea). Lately, Upbit additionally added Pump.Enjoyable, Holoworld AI (Holo), OpenLedger (Open), WorldCoin (WLD), Flock.io (Flock), and Redstone (Purple). This introduced seven new tokens in simply 11 days. This exceeds the entire listings for August.
Upbit has historically adopted a conservative record method in comparison with its rivals. Nevertheless, native media studies present that after Bithumb started filling the market share hole, the change modified course.
High 10 Most Traded Cash on Upbits September eleventh / Supply: Coingecko
For instance, WLD, beforehand traded on Bithumb, Coinone and Korbit, has greater than doubled in every week, pushing Bithumb’s market share to 46% on Tuesday. Upbit instantly rebutted, unveiling its WLD record at 7pm and started buying and selling two hours later.
Information from the Digital Asset Change Alliance (DAXA), the Korean Crypto Change Affiliation, exhibits that as of late August, Bithumb listed 406 tokens.
New Digital Asset World Coin (WLD) Transaction Assist Information
Assist Market: KRW, BTC, USDT Market
transactionTransaction help began: 2025-09-09 21:30 kstcoltageshortcut: https://t.co/tvtsvaenhq#upbit
– Upbit Korea (@official_upbit) September 9, 2025
The 2 exchanges have lengthy dominated the Korean crypto market. Bithumb quickly overtaked Upbit via a zero-fee buying and selling marketing campaign in late 2023, however rapidly misplaced its lead. Analysts level out that the present challenges are much more necessary as Bithumb’s advantages got here with out particular promotions.
From January to August 2025, common each day buying and selling quantity reached $3.2 billion (₩4.4 trillion) for Upbit and $1.2 billion (₩1.6 trillion) for Bitham, totaling $4.4 billion (₩6 trillion). That determine almost doubled from the earlier yr’s $2.2 billion (₩2.9 trillion).
Wrist races trigger concern of investor safety
Business specialists warn that fierce competitors to record tokens might undermine due diligence. Accelerated evaluations threat approving property that don’t meet the necessities. Within the second half of 2025 alone, Korea’s 5 largest victory-based exchanges listed 25 tokens, a lot of which had been lower than a yr.
Upbit has strengthened its itemizing together with the record. I deleted 10 tokens in 2023, 3 tokens in 2024, and 11 tokens within the first eight months of 2025. Bithumb listed 26, 19 and 20 tokens over the identical interval, sustaining about 20 removals per yr. Upbit’s itemizing ratio jumped from 8% to 24%, whereas Bithumb eased from 24% to 21%.
An trade official who requested anonymity mentioned, “Because the Korean market is restricted to identify buying and selling, increasing itemizing has develop into the one aggressive software. Mockingly, stricter rules burn fierce and fierce distances and erode traders’ protections.” He exhibits that South Korean rules restrict exchanges to buying and selling solely and ban derivatives and different merchandise.
Why does Put up Upbit publish lists virtually daily? It first appeared in Beincrypto.
