Headline: PROS surges nearly 48% after Upbit and Bithumb add Pharos — trading volume jumps 210%
Pharos’ native token PROS ripped higher after two major South Korean exchanges listed the project, giving local traders fresh on‑ramps and igniting a wave of buying.
What happened
- Upbit announced it will list Pharos (PROS) on its KRW, BTC and USDT markets starting May 8 at 8:30 p.m. Korea time. The exchange said deposits and withdrawals would begin within about 1 hour 30 minutes after the announcement, and warned users to send PROS only via the Pharos network—deposits sent over unsupported networks may take longer to be returned.
- Bithumb also added PROS to its KRW market the same day, providing an additional local listing and greater access for Korean traders.
Market reaction
- CoinGecko showed PROS trading at $0.9457 after the listings, up 47.8% over 24 hours and 45.7% over seven days—well ahead of the broader market’s move.
- Trading activity surged: 24‑hour volume hit about $28.7 million, a 209.6% increase from the prior day. PROS’ market cap was roughly $127.5 million, ranking the token around #255 on CoinGecko.
Exchange controls and liquidity caution
Upbit will apply routine protections after the new pair opens: buy orders will be restricted for about five minutes, sell orders priced more than 10% below the previous close will be blocked briefly, and only limit orders will be permitted for roughly two hours. These measures are common on new listings while liquidity and fair pricing establish.
About Pharos
Pharos is an EVM‑compatible Layer‑1 chain using an asynchronous BFT‑based Proof‑of‑Stake consensus and parallel processing. The network is pitched for Web3 and real‑world asset (RWA) use cases. According to Messari, Pharos is a modular Layer‑1 designed for RWAs, targeting 30,000 transactions per second and sub‑second block times while combining EVM and WASM in a single runtime.
Context
The PROS listing follows a string of recent Upbit additions—Upbit listed B3 on May 7 and Dogwifhat on May 6—demonstrating how new local listings can attract fast retail demand and sharp short‑term price moves. The developments come as South Korea’s crypto industry faces growing compliance pressure; local groups warn planned AML rule changes could significantly increase exchanges’ reporting burdens.
Bottom line
Dual listings on Korea’s two largest exchanges drove renewed attention and liquidity into PROS, producing a sharp price spike and surging trading volumes. Investors should note the temporary order controls and the potential for volatile short‑term swings around new listings.
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