PROS Soars 48%-Korea’s Crypto Exchanges Go Barmy!

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

30 p.m. Korea time, which is the exact moment when most people’s patience runs out and their wallets run dry.

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, or risk their coins getting lost in the interdimensional void of unsupported networks.

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, which is like a toddler outpacing a sloth in a race.

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, because apparently, even chaos has a hierarchy.

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, which is like getting a second slice of cake at a party where the first slice was already stolen by a confused parrot.

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, because nothing says “excitement” like a five-minute wait and a 10% price ceiling.

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, which is a fancy way of saying “we’re all just guessing here.”

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, which is like a Swiss Army knife for blockchain enthusiasts, but with more jargon and fewer knives.

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, because apparently, even blockchains need to multitask now.

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, which is like adding a new flavor of ice cream to an already overstocked freezer.

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, because nothing says “investment” like a rollercoaster with no safety harnesses.

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, because nothing says “fun” like paperwork and paranoia.

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2026-05-08 14:34