Upbit opened spot trading for Conflux's CFX on July 31 at 16:00 KST, with KRW, BTC and USDT markets live at once. Deposits and withdrawals opened about 90 minutes earlier and run only through Conflux eSpace. The won pair was still trading on October 7, and no new exchange event has followed.
Where it stands
Korean exchanges often introduce a token on the BTC market first and let it earn a won pair later. Going straight to KRW on day one suggests Upbit expected real retail demand, since the won market is where Korean retail volume lives. For a token with a market cap near $236 million, a won pair can change the ownership base rather than just add a venue. Our guide on how exchange listings work explains why the quote currency says more than the announcement.
Upbit's public market data shows the KRW pair closing at 60.40 won on July 31 and at 69.70 won on October 7. CoinGecko puts CFX at about $0.0515 with a market cap near $270 million, and Binance carries the deepest USDT book. At listing the price was about $0.045. CoinGecko also shows a circulating supply of 5.245 billion CFX and an all-time high of $1.70, so the token trades about 97% below its peak, on roughly $5.2 million of daily volume.
One network event fell inside the window. Conflux released v3.1.0 on August 10 and asked node operators to upgrade before epoch 155140000, estimated for August 25. The release activates seven improvement proposals, mostly for Ethereum compatibility, plus fixes to transaction and staking behavior. Binance paused CFX deposits and withdrawals from August 24 during the upgrade, CoinMarketCap's update feed said.
| Date | Event | Source |
|---|---|---|
| July 31 | Upbit opens CFX/KRW, CFX/BTC and CFX/USDT | crypto.news, Upbit data |
| August 10 | Conflux releases v3.1.0 | Conflux release notes |
| August 24 | Binance pauses CFX deposits and withdrawals | CoinMarketCap |
| August 25 | v3.1.0 hard fork due (estimated epoch date) | Conflux release notes |
How Upbit set up the launch
Upbit wrapped the open in its standard anti-manipulation kit. Only limit orders were available for the first two hours. Initial buy orders faced a five-minute restriction window, and sell orders more than 10% below the reference price were blocked, according to the listing coverage. These rules exist because Korean listings have a history of violent first candles. They compress the chaos rather than remove it.
The won pair, open from minute one.
Bitcoin-quoted market, same start.
Stablecoin pair for dollar traders.
Conflux eSpace exclusively; other routes risk stuck funds.
Market orders disabled at open to damp spikes.
Early buy restrictions and a floor near the reference price.
Conflux is a layer-1 that combines proof-of-work with proof-of-stake, and it positions itself as the compliant public chain in Asian markets. It runs two environments in parallel. Core Space is the native side, and eSpace is the EVM-compatible side where Ethereum tooling works out of the box.
That split matters here because Upbit supports deposits only through eSpace. Sending CFX through Core Space or any other network can end in a lengthy manual recovery, if the funds come back at all.
Risks and what to watch
A listing widens access. It does not create demand. The 8.5% move before launch had already priced the announcement, and Korean retail adoption decides what happens once the guardrails lift. Upbit listings have produced both lasting re-ratings and full round trips, as the GRVT launch window shows.
The won pair carries the volume. Upbit's ticker on October 7 showed about 138 million won of 24-hour turnover in CFX/KRW and next to nothing in the BTC and USDT pairs. A three-market debut therefore does not mean three liquid markets.
CFX is on the tracker with the Upbit event as its first entry. We add dated rows only when an exchange or Conflux announces one.
- New venues: any exchange announcement for CFX. It would appear as a dated row above.
- Deposit routes: the eSpace-only rule bites hardest around hard forks and exchange maintenance windows.
- Korean volume: whether the won pair keeps trading actively or fades once the novelty passes.
Not financial advice Listings often spike and then fade once the first wave of buyers is done. Nothing here is a suggestion to buy this token. Check dates on the exchange's own announcement page before trading: schedules slip. Our listing reaction data shows how new listings have typically traded.
