Key Highlights
- PROS (Pharos) was listed on both Upbit and Bithumb on Friday, with trading starting at different UTC times across both exchanges.
- Upbit started trading at 11:30 UTC, while Bithumb launched trading at 14:30 UTC.
- After listing, PROS surged about 45%, while trading volume increased by over 500% due to strong early demand.
South Korean crypto exchanges Upbit and Bithumb both announced the listing of PROS (Pharos) tokens on Friday.
Trading began on both platforms at different times, with Upbit opening markets around 11:30 UTC and Bithumb launching support later at 14:30 UTC.
Upbit introduces trading restrictions
According to its website, Upbit stated that PROS will be available in KRW, BTC, and USDT markets. Deposits and withdrawals opened shortly after the announcement and are only supported through the official Pharos mainnet network.
The exchange advised users to verify network details carefully before transferring funds, warning that deposits sent through unsupported networks or platforms could face delays or lengthy recovery procedures.
Upbit also imposed temporary trading restrictions during the initial launch period. Market buy orders were blocked for the first few minutes of trading, while certain sell orders below specific price levels were also temporarily restricted.
In addition, non-limit order types were disabled for approximately two hours after trading began, leaving only standard limit orders available during the early trading window.
Bithumb sets KRW launch price
Bithumb also confirmed PROS support in its KRW market. The exchange said deposits and withdrawals would open within three hours of the listing announcement.
The exchange set its own standard listing price of 921 KRW and required 60 block confirmations for deposits before they are credited. Like Upbit, Bithumb only supports the official mainnet network for transactions and does not accept transfers from other networks.
The exchange also introduced temporary trading restrictions during the launch phase, including limits on certain buy and sell orders within the first five minutes of trading and restrictions on non-standard order types shortly after launch.
Bithumb also noted that liquidity conditions will be monitored closely, and trading support could face adjustments if market activity is low at the start.
Pharos (PROS) market movement
Both exchanges described Pharos as an EVM-compatible Layer 1 blockchain built for real-world asset integration. The network is designed to support high performance with a target of around 30,000 transactions per second and block times under one second. It also supports both EVM and WASM systems, making it flexible for developers.
The PROS token functions as the native asset of the network. It is used for a lot of things in the ecosystem, including paying gas fees and rewarding validators.
According to data from CoinMarketCap, PROS rose around 45% just hours after launch, trading for $0.911. Trading activity is performing well, with a 545% increase within this period reaching $64.39 million, with its market cap sitting at $122.6 million.
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