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Upbit lists MORPHO on KRW market as on-chain activity jumps

Upbit lists MORPHO on KRW market as on-chain activity jumps

South Korea’s largest crypto exchange opened MORPHO won trading at 18:00 KST on July 25 with Ethereum-only transfers and temporary order limits; whale activity, wallet creation and exchange outflows then hit multi-month highs.

ETH
MORPHO

Fact Check
Multiple independent outlets corroborate the claim. BlockBeats reports the exact listing time (18:00 KST July 25 / 9:00 UTC), Ethereum network, and temporary buy/non-limit order restrictions, matching the claim precisely. PANews and Odaily both report the KRW listing citing the official Upbit announcement. CoinNess confirms the listing occurred at 9:00 UTC. The direct Upbit notice was inaccessible (Cloudflare block), but the consistent citations of the official announcement across sources provide strong support.
Summary

Upbit said it would add Morpho (MORPHO) to its KRW-denominated market at 18:00 KST on July 25, supporting deposits and withdrawals only on the Ethereum network and imposing temporary restrictions on buy orders, low-priced sell orders and non-limit orders after launch. The listing, announced alongside Upbit’s plan to add Euler (EUL) to the KRW market on July 26, was followed by a sharp but short-lived rise in MORPHO market and on-chain activity. Santiment recorded 68 whale transactions above $100,000, 337 new MORPHO addresses and 4.35 million MORPHO in exchange outflows, each the strongest reading in months according to the report. MORPHO rose from about $1.93 to an intraday high of $2.17 and daily volume climbed to about $71 million, according to CoinGecko, before the move faded, with the token later trading near $1.99 and volume retreating to about $22 million. Upbit’s KRW pair still accounted for 12.26% of daily MORPHO volume, the largest share of any market, highlighting South Korean traders’ influence on short-term price action.

Terms & Concepts
  • MORPHO: The Morpho token that Upbit added for won-denominated spot trading.
  • whale transactions: Large transfers by big holders, in this case counted as transactions above $100,000.
  • limit orders: Orders to buy or sell only at a specified price or better.