Upbit Listing Pump Explodes…How High Will Prosper (PROS) Rise?

▲ Pharos Listing - Upbit Korea X

Immediately after its Upbit listing, Prosper (PROS) surged by over 60% in a single day due to an explosive influx of buying pressure. The market analyzes that this is turning into a short-term overheating situation, combining the new listing effect with altcoin rotation funds.

Upbit began supporting trading for Prosper in the Korean Won (KRW), Bitcoin (BTC), and Tether (USDT) markets on the afternoon of May 8 (Korean time). Following the announcement of trading support, Prosper's price rapidly soared, peaking at 1,500 KRW on the Upbit KRW market during intraday trading. As of 9:01 PM, the price was 1,353 KRW, marking a 66.83% increase compared to the previous day.

Trading volume also surged. According to Upbit, the 24-hour trading volume reached approximately 20.64 million PROS, with trading value expanding to about 29.1 billion USD. At the same time, it ranked among the top gainers on the Upbit KRW market, showing a concentration of short-term supply and demand.

Upbit announced that deposits and withdrawals for Prosper would commence approximately 1 hour and 30 minutes after the trading support announcement. Trading support was scheduled to begin at 8:30 PM on the same day. However, to prevent increased volatility in the initial listing phase, gradual trading restrictions were also applied, including purchase limits, minimum selling price limits, and order type restrictions.

According to Upbit's information page, Prosper is an EVM-compatible Layer 1 blockchain project. It aims for 30,000 TPS processing performance per second and block generation speeds of less than 1 second, based on a parallel processing architecture, and emphasizes the use of Real World Assets (RWA) as a key strategy. The project highlights massive user scalability and high extensibility as its strengths.

The market is focusing on the possibility that the Upbit listing premium effect will continue in the short term. However, given the nature of newly listed coins, there is also a possibility that profit-taking sell-offs may quickly emerge after the initial surge. Especially since the volatility from the intraday high is significant, the sustainability of trading volume is considered a key variable for future trends.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*