Upbit Effect: 4 Tokens Surge, ETHGas Soars 11%!
Upbit Adds Four New Altcoins: Biconomy, Bubblemaps, Nillion, and ETHGas — What You Need to Know
In Brief
Key Takeaways at a Glance
- Upbit (South Korea’s biggest crypto exchange) is listing four new tokens: BICO, BMT, NIL, and GWEI.
- Trading starts August 21 at 1:00 PM KST (Korea Standard Time).
- All four tokens jumped in price after the announcement — GWEI led with an 11.75% gain.
- Trading pairs: BTC and USDT only (no Korean Won/KRW pairs).
- Special launch restrictions apply for the first few hours.
What Happened?
Upbit announced today that it will add four new altcoins to its platform. Think of Upbit like the "Coinbase of South Korea" — it’s the largest and most trusted exchange there. When Upbit lists a new token, it often causes a big price jump because suddenly many more people can easily buy it.
Here are the four new tokens:
| Token | Ticker | What It Does (Super Simple) |
|---|---|---|
| Biconomy | BICO | Helps apps run smoother on blockchain (like "plumbing" for Web3) |
| Bubblemaps | BMT | Visual tool to see who holds crypto tokens (like a map of wallets) |
| Nillion | NIL | A new way to compute data privately without revealing it |
| ETHGas | GWEI | Tracks and helps manage Ethereum gas fees |
ELI5: Imagine a new store opening in the biggest mall in town. More shoppers = more demand = prices go up. That’s what happens when Upbit lists a token.
How Did the Market React?
All four tokens turned green within minutes of the announcement. Here’s the scoreboard:
| Token | Price Jump | Where It Jumped |
|---|---|---|
| ETHGas (GWEI) | +11.75% | Kraken (vs USD) |
| Bubblemaps (BMT) | +7.48% | Binance (vs USDT) |
| Biconomy (BICO) | +7.35% | Binance (vs USDT) |
| Nillion (NIL) | +5.11% | Binance (vs USDT) |
Trading volume also exploded — meaning lots of people were buying and selling:
- GWEI: Volume doubled (+197%) to $11.1M
- BICO: Volume up 46.7% to $34.5M
- BMT: Volume up 25.7% to $12M
- NIL: Volume up 21.4% to $14.6M
Deja Vu? This isn’t new. Earlier this month, six other Upbit listings pumped tokens like Cysic (CYS) +32% and AIOZ +12.6%. But — many of those gains faded fast after trading opened.
When Does Trading Start? (Step-by-Step)
Mark Your Calendar
Trading opens: August 21 at 1:00 PM KST
(That’s 12:00 AM UTC / 8:00 PM EDT on Aug 20 / 5:00 PM PDT on Aug 20)
Deposits & Withdrawals
- Open within 2 hours of the announcement
- Only use the networks Upbit specifies — sending via the wrong network = lost funds
Launch Restrictions (Standard Upbit Rules)
| Time After Launch | Restriction |
|---|---|
| First ~5 minutes | No buy orders allowed No sell orders >10% below yesterday’s close |
| First ~2 hours | Only limit orders (no market orders) |
| After 2 hours | All order types enabled |
Why? To prevent wild price swings and bot front-running right at the open.
Important Things to Know
CALL OUT: Read This Before You Trade
- No KRW pairs — you can’t buy directly with Korean Won. Only BTC or USDT.
- Network matters — double-check the deposit network (ERC-20, BEP-20, etc.) or you lose your money.
- History says: gains often fade — past Upbit listings pumped hard, then dropped once the hype cooled.
- Not financial advice — this is news, not a recommendation. Do your own research (DYOR).
Summary
- Upbit listed 4 new tokens: BICO, BMT, NIL, GWEI
- Trading starts Aug 21, 1 PM KST on BTC & USDT pairs
- All four surged 5–12% on the news, with GWEI leading
- Volume spiked — heavy interest from traders
- Standard restrictions apply at launch (no buys for 5 mins, limit orders only for 2 hrs)
- Past pattern: big pump at open, often followed by a sell-the-news drop
Bottom Line: Upbit listings = short-term hype + volatility. If you’re trading, have a plan. If you’re investing, look beyond the listing pop.
FAQ (Frequently Asked Questions)
1. What is Upbit and why does it matter?
Upbit is South Korea’s largest cryptocurrency exchange. Because Korea is a huge crypto market, a listing on Upbit gives a token instant access to massive liquidity and Korean traders — often causing a sharp price increase.
2. Can I buy these tokens with Korean Won (KRW)?
No. Upbit only listed them against Bitcoin (BTC) and Tether (USDT). You’ll need to hold BTC or USDT to trade them on Upbit.
3. What are “limit orders” and why only those for 2 hours?
A limit order lets you set the exact price you want to buy/sell at. A market order buys/sells instantly at the best available price. Upbit restricts to limit orders at launch to prevent chaotic price spikes from market orders.
4. Why did prices jump before trading even started?
Traders on other exchanges (Kraken, Binance) bought early, anticipating demand once Upbit opens. This is called “front-running the listing.”
5. Should I buy now because of the Upbit listing?
That’s up to you — but be careful. History shows many Upbit listings pump hard at open, then drop. Never invest more than you can lose, and always research the project’s long-term value, not just the listing news.
Stay informed. Trade smart.