Yield Basis (YB) Gains 17% After Securing Upbit Listing
- Upbit revealed that it will list Yield Basis, sending YB price up over 17%.
- YB/BTC and YB/USDT trading will go live on December 26 with launch restrictions.
- Yield Basis TVL surged over the past few months, signaling rapid protocol adoption.
Upbit, South Korea’s largest cryptocurrency exchange, has announced the listing of Yield Basis (YB), with trading set to go live today.
The announcement boosted market interest, triggering a double-digit surge in YB’s price. Trading activity also increased ahead of the launch, with a noticeable rise in volume.
Upbit Expands Market Access for Yield Basis
Upbit confirmed that YB/BTC and YB/USDT trading pairs will go live on December 26 at 15:00 Korean Standard Time (KST). According to the exchange, YB deposits and withdrawals will be supported on the Ethereum network.
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It emphasized that transactions sent through unsupported networks will not be credited, urging users to verify network details and contract addresses before transferring funds. The contract address for YB is 0x01791F726B4103694969820be083196cC7c045fF.
“To comply with the Travel Rule, deposits from exchanges not included in the list of supported virtual asset service providers may not be credited, and returns may take a long time,” Upbit added.
As with previous listings, Upbit will apply temporary trading restrictions during the initial launch phase. The exchange will restrict buy orders for the first five minutes after trading begins. Sell orders priced more than 10% below the previous day’s closing price will also be restricted during that period.
Additionally, the exchange will only allow limit orders for approximately two hours after the start of trading. These measures are designed to reduce volatility and ensure orderly market conditions at launch.
Following the announcement, YB’s price increased by over 17%. At the time of writing, the altcoin was trading at $0.43. CoinGecko data also showed a 169% surge in daily trading volume, indicating increased investor activity.
Yield Basis Gains Traction Amid Rapid TVL Growth
The Upbit listing comes amid growing adoption of the Yield Basis protocol itself. For context, Yield Basis is an on-chain liquidity solution that allows users to provide Bitcoin as liquidity to automated market maker (AMM) pools without avoiding impermanent loss (IL).
According to DeFiLlama, the protocol’s total value locked (TVL) has climbed from approximately $30 million in early October to over $200 million today, reflecting strong user demand.
The Upbit listing, therefore, arrives at a critical point for Yield Basis, combining rapid TVL growth with broader exchange exposure. Market participants are now watching whether the protocol and its token can sustain momentum amid upcoming token unlocks and rising competition from established DeFi platforms.
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