The Optimism (OP) token rose 7.8% in just one hour after its listing on Upbit, South Korea’s largest cryptocurrency exchange, earlier today. The price reached $0.80, helped by a massive 309.90% increase in trading volume over 24 hours, totaling $520.8 million. Upbit launched trading pairs for OP with Korean Won (KRW), Bitcoin (BTC), and Tether (USDT) at 16:30 KST.
Upbit Listing Fuels (OP) Token Pump
The quick price increase shows strong interest from investors, even though some gains decreased afterward. X erupted with excitement over OP’s listing, with users touting Upbit’s influence on price spikes. One post by @CryptoMemeRaj commented,
OP pumping right on schedule. exchange listings never disappoint for that morning dopamine hit
— Raj | Market Memes (@CryptoMemeRaj) July 28, 2025
The rise in Optimism token is similar to past reactions seen with other altcoins on the exchange. For example, three days ago, the crypto market saw Maple Finance’s native token, SYRUP, surge 28.5% in 10 minutes after its Upbit listing. The move propelled it very close to its June 2025 all-time high of $0.6575, marking its 30-day high.
Following a mild correction, the asset soared even higher over the subsequent hours, reaching $0.6524, according to CoinMarketCap data. The Ethena ENA token also gained 19.27% after its listing on July 11, climbing from $0.327 to $0.390, and other tokens like Caldera (ERA) have followed this trend.
Caution Trails Token Surge
OP token’s price increase aligns with technical signs showing a breakout from a falling wedge pattern, suggesting further potential growth. Some analysts are optimistic that OP could reach $5 in the long run. However, bearish signs from the MACD indicator warn of possible short-term price drops. An upcoming token unlock might also put downward pressure on OP’s price.
Despite these risks, the strong market interest highlights Optimism’s growing role in Ethereum’s Layer-2 scaling solutions. The rapid rise of the Optimism token showcases Upbit’s ability to create market excitement and liquidity for promising cryptocurrencies.
While short-term volatility is possible due to token unlocks and technical warnings, the overall positive sentiment remains strong. Optimism’s governance model, which rewards projects with 5.4% of its token supply over six months, adds to its appeal. Investors are paying close attention as OP moves through this changing market, looking for potential long-term gains.
