Upbit, South Korea’s largest cryptocurrency exchange, has announced the listing of Yield Basis (YB), with trading scheduled to begin today.
This announcement increased market interest and caused a double-digit increase in YB prices. Trading activity also picked up ahead of the launch, with trading volumes increasing markedly.
Upbit expands market access based on yield
Upbit has confirmed that the YB/BTC and YB/USDT trading pairs will be launched on December 26th at 15:00 Korean Standard Time (KST). According to the exchange, YB deposits and withdrawals will be supported on the Ethereum network.
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It stressed that transactions sent via unsupported networks will not be credited and urged users to verify network details and contract addresses before transferring funds. YB’s contract address is 0x01791F726B4103694969820be083196cC7c045fF.
“In order to comply with the Travel Rule, deposits from exchanges that are not on the list of supported crypto asset service providers may not be deposited and may take a long time to be returned,” Upbit added.
Similar to previous listings, Upbit will apply temporary trading restrictions during the initial launch phase. The exchange will restrict buy orders during the first five minutes of trading. During this period, sell orders at prices that are more than 10% below the previous day’s closing price will also be restricted.
Additionally, the exchange only allows limit orders for approximately two hours after trading begins. These measures are aimed at reducing volatility and ensuring orderly market conditions at the time of launch.
Following this announcement, YB’s price rose over 17%. At the time of writing, the altcoin was trading at $0.43. CoinGecko data also shows that daily trading volume has increased by 169%, indicating increased investor activity.
Yield base gains momentum amid rapid TVL growth
Upbit’s listing comes amid growing adoption of the Yield Basis protocol itself. For context, Yield Basis is an on-chain liquidity solution that allows users to provide Bitcoin as liquidity to automated market maker (AMM) pools without avoiding permanent loss (IL).
According to DeFiLlama, the protocol’s total value locked (TVL) has increased from around $30 million in early October to more than $200 million today, reflecting strong user demand.
Upbit’s listing therefore combines TVL’s rapid growth and broad exchange exposure to reach a critical point for yield basis. Market participants are now focused on whether the protocol and its tokens can maintain momentum amid upcoming token unlocks and increased competition from established DeFi platforms.
