Upbit Listing Sends Caldera (ERA) Price Soaring 60%

South Korea’s top crypto exchange Upbit has announced the listing of Caldera (ERA), fueling a notable surge in the altcoin.

The announcement comes a day after Caldera’s foray into Binance’s HODLer airdrops program.

Upbit To List Caldera: Everything You Need to Know

The Korean exchange said it would support deposits and withdrawals for ERA on the Ethereum network only, with key restrictions and security protocols in place.

The token will trade against Korean Won (KRW), Bitcoin (BTC), and USDT stablecoin. Trading will begin at 00:30 KST on July 18.

“All deposits made before the reference price is registered on CoinMarketCap—or before Upbit’s official trading launch—will be subject to Travel Rule verification, even if the amount exceeds ₩1 million,” Upbit articulated.

In the immediate aftermath of this listing announcement, the ERA price leaped 60%. This was an expected outcome, typical of such developments for budding tokens on popular exchanges.

Recently, ENA token surged 19% after a similar announcement, with the same going for HYPER and BABY two weeks ago.

ERA’s price surge comes as traders anticipate high demand following Upbit’s support in the Korean market, a region known for its outsized impact on token volumes.

Upbit highlighted Caldera’s contract address and urged users to ensure deposits originate from self-owned wallets or approved virtual asset service providers.

“Misrouted deposits or those from unverified sources may face lengthy return procedures,” read an excerpt in the announcement.

Notably, Caldera is a “Rollups-as-a-Service” platform where Web3 developers can launch customizable Layer 2 solutions quickly and efficiently. The ERA token is fundamental to the Caldera ecosystem, delivering o use cases such as gas fees, validator staking, and governance.

Meanwhile, this development comes a day after Caldera made it to the Binance HODLer airdrops program.

“Binance is excited to announce the 27th project on the HODLer Airdrops page – Caldera (ERA). It is the internet of rollups, an ecosystem of modular, interconnected, and customizable chains,” Binance said in the announcement.

Further, the Binance exchange committed to listing Caldera’s ERA token for spot trading on July 17 at 15:30 UTC. On Binance, ERA will trade against select token pairs, namely USDT, USDC, BNB, FDUSD, and TRY.

The token will carry a Seed Tag, as a special identifier, indicating higher risk or limited liquidity.

“Users may begin depositing ERA one hour after the announcement,” Binance stated.

Additionally, while ERA will initially appear on Binance Alpha, it will no longer be featured there once spot trading launches on the main platform.

Binance users who subscribed their BNB to Simple Earn (either Flexible or Locked) or On-Chain Yields products between July 1 and July 5, 2025, will be eligible for an airdrop of the ERA token. In this regard, 20,000,000 ERA tokens have been set aside for the airdrop. This constitutes 2.00% of the total token supply (1 billion ERA)

According to Binance, HODLer Airdrops details will be available within 24 hours. Token distribution will occur at least one hour before spot trading begins, with assets credited directly to users’ Spot Accounts.