PROS explodes 48% as Upbit and Bithumb listings ignite demand

Upbit will add Pharos to its KRW, BTC, and USDT markets on May 8, giving Korean traders new spot access to PROS. 

The exchange notice said trading support was scheduled for 8:30 p.m. Korea time.

Deposits and withdrawals are expected to open within one hour and 30 minutes after the notice. Upbit said users must send PROS through the Pharos network only, as deposits through unsupported networks may take longer to return.

Interestingly, CoinGecko data showed Pharos trading at $0.9457, up 47.8% over 24 hours. The token also gained 45.7% over seven days, placing it above the wider crypto market’s daily move.

Trading activity also increased. CoinGecko placed 24-hour PROS volume at $28.7 million, up 209.6% from the previous day. The token had a market cap of about $127.5 million and ranked #255 on CoinGecko.

The price move also came as Bithumb added Pharos to its Korean won market. That gave PROS another local listing on the same day and expanded access beyond Upbit

Early trading limits will apply

Upbit will apply normal trading controls after the listing opens. Buy orders will be restricted for about five minutes after trading starts. The exchange will also block sell orders priced more than 10% below the previous closing price for a short period.

For around two hours, Upbit will only allow limit orders. These controls are common during new listings, when liquidity is still forming and prices may move quickly.

Meanwhile, Pharos is an EVM-compatible Layer 1 blockchain that uses an asynchronous BFT-based proof-of-stake consensus model. The network also uses parallel processing and aims to support Web3 and real-world asset applications.

Messari describes Pharos as a modular Layer 1 built for real-world assets. Its report says the network targets 30,000 transactions per second and sub-second block times, while combining EVM and WASM under one runtime.

Korean exchange activity stays busy

The PROS listing follows recent Upbit market additions. Related crypto.news coverage said Upbit added B3 to its Korean won market on May 7, giving the Base-linked token direct local access.

Moreover, as crypto.news reported, Upbit listed Dogwifhat on KRW, BTC, and USDT markets on May 6. That report noted that new Upbit listings can draw fast retail attention, but may also bring sharp short-term price moves.

The listing comes as South Korea’s crypto sector faces tighter compliance pressure. Recent crypto.news coverage said local industry groups warned that planned AML changes could raise exchange reporting loads sharply.