The new altcoin listing event on Upbit creates a significant increase, with Pocket Network leading.

Upbit, the largest exchange in South Korea by trading volume, has announced the listing of four altcoins on its spot platform.

The tokens include FLock.io (FLOCK), Forta (FORT), Pocket Network (POKT), and Livepeer (LPT). After the announcement, all four tokens saw significant price increases, with Pocket Network leading the surge with a three-digit increase.

Upbit lists FLOCK, FORT, POKT and LPT

According to the official announcement from Upbit, the tokens will be available for trading with Bitcoin, USDT, and South Korean Won (KRW) pairs. Trading will start at 13:00 on May 30 ( Vietnam time) with FLOCK, available in the BTC and USDT markets through Base Network.

Next is FORT, which will be traded with the BTC and USDT pairs through the Ethereum network starting from 13:00 ( Vietnamese time ). LPT will launch trading on the KRW and USDT markets through Ethereum at 15:00 ( Vietnamese time ).

Finally, Upbit revealed that POKT will be listed on the KRW market through the native Pocket Network blockchain at 17:00 ( Vietnam time ).

"Please ensure that you verify the network before sending digital assets. Sending or withdrawing funds through networks other than those specified will not be supported," Upbit stated.

Market data shows that the impact from listing is almost instantaneous. The POKT token of Pocket Network recorded the most impressive increase, soaring over 592% within just a few minutes after the announcement.

This increase has also pushed the market capitalization of POKT from around 25 million dollars to 97 million dollars. Although the momentum later cooled, POKT still maintained an impressive increase of 268% in 24 hours at the time of writing.

The FLOCK token recorded the second largest increase – up 49.3%, followed by LPT from Livepeer – up 41.5%. Both of these tokens then slightly adjusted, stabilizing at an increase of 48% and 38%, respectively.

Price chart of FLOCK, FORT, POKT, LPT | Source: TradingViewFinally, FORT initially increased by 26.8% but ended up being the token with the largest decline among the four listed names, losing almost all of its previous gains. At the time of writing, FORT has only increased by 0.8%.

This development continues to show a strong market reaction pattern after listings on exchanges. Upbit's listing of MANTRA (OM), Access Protocol (ACS), GoChain (GO), Observer (OBSR), Quiztok (QTCON), and Rally (RLY) tokens last week also led to similar strong price increases.

Minh Anh