Upbit Expands KRW Market with Major DeFi Token Listings

South Korean exchange Upbit has expanded its Korean won (KRW) market by listing two major decentralized finance (DeFi) tokens, Morpho (MORPHO) and Euler (EUL).

The listings offer traders direct access to the KRW market for these Ethereum-based lending projects. The new pairs are available on Upbit, in addition to existing BTC and USDT markets.

Euler's KRW trading launch was initially scheduled for 12:00 p.m. KST but was delayed by two hours to 2:00 p.m. KST due to liquidity concerns. During the initial delay, users could not place buy orders for about five minutes after trading began, and sell orders priced more than 10% below the previous closing price were restricted.

Despite the delays, EUL surged by around 74% in value before its listing on Upbit. The token's market capitalization is now over $1.2 billion, with daily volume increasing by more than 400% from the previous day.