Upbit, South Korea's leading cryptocurrency exchange, has intensified its token listing activities, adding nearly one new token daily in September. This aggressive strategy is aimed at maintaining its market dominance as competitor Bithumb closes the gap, now holding a 46% market share. Recent additions include Linea (LINEA), Pump.Fun (PUMP), and Worldcoin (WLD).
The rapid pace of listings has sparked concerns about investor protection, as delistings have also increased. Analysts attribute Upbit's shift from a conservative approach to the competitive pressure from Bithumb. The fierce competition for listings may compromise due diligence, potentially allowing assets that do not meet standards. Experts caution that while regulations tighten, the race for market share could undermine investor safety.
Upbit Expands Token Listings to Counter Bithumb's Market Gains
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