South Korean crypto exchange Upbit announced on Aug. 5 that it will list Grvt’s GRVT token against the Korean won, Bitcoin and Tether. Summary GRVT rose 23% before Upbit’s scheduled opening of three spot markets in South Korea Wednesday. Trading is scheduled for 17:00 KST across Korean won, Bitcoin, and Tether pairs on Wednesday. Upbit will support Ethereum deposits only, using the published GRVT contract address for verification purposes. Buy orders face five-minute restrictions, while only limit orders remain available initially for two hours. GRVT has a fixed one-billion supply, with 110 million tokens circulating, according to CoinGecko today. Trading is scheduled to begin at 17:00 Korea Standard Time. Deposits and withdrawals were expected to open through Ethereum within two hours of the notice. The new markets had not opened when this report was prepared. CoinGecko showed GRVT near $0.3235, up about 23.3% over 24 hours, with trading volume above $164 million. Because the token was already trading on other exchanges, the entire gain cannot be attributed to completed Upbit orders. Upbit gives GRVT access to three spot markets Upbit will open GRVT/KRW, GRVT/BTC and GRVT/USDT markets. The won pair gives South Korean customers a direct route into GRVT without first converting their funds into Bitcoin or a stablecoin. The exchange warned that the scheduled opening “may be delayed” if deposits do not provide enough liquidity. The exchange will accept transfers only through Ethereum. It published the contract address as 0xAD29F2723fcdBcF665F210F25E06f97477e417cF and warned that unsupported network deposits may require a lengthy return process. Upbit also stressed that Grvt Token, or GRVT, is different from Gravity, which trades under the ticker G. For its opening restrictions, Upbit cited a previous closing price of 374.05 won and 0.2622 USDT. It displayed more recent reference prices of 385.68 won and 0.2632 USDT at 13:30 KST. These were reference figures rather than guaranteed execution prices. GRVT price rises before the scheduled opening GRVT traded between approximately $0.259 and $0.338 over 24 hours. Its market capitalization stood near $37 million, based on an estimated circulating supply of 110 million tokens. CoinGecko placed its fully diluted valuation near $323 million, using the project’s one billion maximum supply. The token was already available on exchanges including OKX, Bitget, Bybit and Bithumb. Upbit’s addition therefore expands GRVT’s Korean market access and potential liquidity rather than marking its first centralized exchange listing. The announcement followed other recent Korean listings. Upbit opened HOME trading against the won and USDT on Aug. 4. In related coverage, the exchange added CFX across KRW, BTC and USDT markets on July 31. Opening controls will limit early GRVT orders Upbit will block buy orders for about five minutes after trading begins. During the same period, sell orders priced more than 10% below the previous closing price will be restricted. Only limit orders will be accepted for approximately two hours. The restrictions reduce the order types available while the three new books establish liquidity. Upbit has applied similar staged controls to other recent listings, including CFX and HOME. Users must also comply with South Korea’s travel rule requirements. Deposits from providers outside Upbit’s approved virtual asset service provider list may not be credited. Transfers from personal wallets require completed ownership verification. Large deposits with unclear origins may trigger requests for information about the source of funds. The 17:00 KST launch remains the next test Grvt describes itself as a self-custodial trading and asset management platform operating on a dedicated Layer 2 built with ZKsync technology. It combines perpetual futures, spot trading and yield products around one account balance. The project says GRVT has a fixed supply of one billion tokens. It plans to use the token for fee benefits, product access and other platform services. These are project-defined uses and do not guarantee investment returns. The next verified event is the scheduled 17:00 KST opening. Traders will watch initial liquidity, price differences between Korean and international markets and whether the increase in volume continues after Upbit orders begin. A delay remains possible if the exchange determines that available liquidity is insufficient.
