Upbit to list DRV in KRW, BTC and USDT pairs on July 14

South Korean exchanges Upbit and Bithumb began listing Derive’s DRV token on July 14, giving the asset simultaneous exposure on two of the country’s largest trading venues and triggering a sharp market reaction. DRV rose roughly 30%, climbing from about $0.12 toward $0.18 before easing back near $0.15, while daily trading volume topped $10 million and market capitalization reached $151.2 million, according to BeInCrypto data. Upbit opened trading at 17:00 Korea Standard Time with KRW, BTC and USDT pairs, while Bithumb followed with a won-market listing. Initial restrictions including limit-only orders were used around the launch as South Korea’s tightly regulated exchange market concentrated buying pressure on a small number of dominant platforms. Derive, formerly Lyra Finance, rebranded in 2024 and migrated eligible LYRA balances into DRV at a 1:1 ratio after a May 2024 snapshot. DRV launched in January 2025, and the protocol operates a self-custodial onchain derivatives exchange offering options, perpetual futures and structured products on an Ethereum rollup built with the OP Stack. A recent launch on Hyperliquid had already expanded its footprint and volume, with cumulative protocol activity running into the billions of dollars. The South Korean listings follow DRV’s Coinbase debut in May 2026 and may broaden access further, though sustained momentum will depend on market conditions, product execution and the protocol’s roadmap.