New Altcoin Lands on Upbit and Bithumb — Here’s What to Know

CPOOL, the native token of the Clearpool protocol, surged to a two-month high after securing dual listings from Bithumb and Upbit.

Trading began at 16:30 Korean Standard Time (KST) on both exchanges, with Upbit accounting for the majority of the altcoin’s volume.

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Upbit and Bithumb Listings Trigger CPOOL Price Rally

Clearpool is a decentralized protocol linking institutional borrowers to unsecured loans. The CPOOL token powers protocol governance, staking, and rewards for liquidity providers, putting it at the forefront of on-chain capital markets.

On October 22, South Korea’s top exchanges Bithumb and Upbit both announced support for CPOOL trading. On Bithumb, the token is listed against the Korean Won (KRW).

Furthermore, the exchange set the reference price at 143.226 Won. It also revealed a fee-free trading period for CPOOL, running from October 22 until 17:00 KST on October 24.

Meanwhile, Upbit has offered three trading pairs: KRW, Bitcoin (BTC), and Tether (USDT). In line with its guidelines, the exchange will only allow limit orders for the first two hours of trading.

“The contract address for CPOOL supported by Upbit is 0x66761fa41377003622aee3c7675fc7b5c1c2fac5. Please verify the contract address when depositing or withdrawing CPOOL,” the notice read.

Notably, Upbit’s listing notice triggered a surge in CPOOL’s price. The altcoin’s value jumped more than 91% from $0.104 to $0.199, a level last seen in late August. However, a slight correction followed.

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Bithumb’s subsequent announcement led to a more modest uptick. Yet again, the rise was short-lived. The price reversed most of its gains to trade at a press time value of $0.131, up nearly 30% since the initial announcement.

In addition to price, trading activity also rose. CoinGecko data showed that CPOOL’s daily trading volume increased 1,435.90% to reach $69 million. Upbit accounted for nearly 26% of this.

CPOOL Buyback Program Boosts Market Confidence

While exchange-driven gains may be temporary, the protocol has taken steps that could support long-term growth. Earlier this week, Clearpool resumed its official buyback initiative, purchasing CPOOL directly from the open market.

Such buybacks often signal management’s confidence in the project’s fundamentals and can help stabilize prices during periods of volatility.

“The program will utilize revenue generated from recent quarters across the full Clearpool ecosystem, including Dynamic Pools, Clearpool Prime, Credit Vaults, and the USDX T-Pool,” the protocol stated.

With increased exposure and growing scarcity, CPOOL appears well-positioned to solidify its role in the on-chain credit market. Sustaining momentum will hinge on whether current trading interest and protocol activity evolve into lasting, organic growth for the token.