Upbit opened Metaplex's MPLX for trading against BTC and USDT at 10:00 KST on July 4, 2026, after moving the start from July 3 at 15:00 KST. Metaplex says its Bithumb listing also went live in early July. MPLX trades near $0.054 on October 7, 94 percent below its high.

Where it stands

Upbit posted its notice at 12:00 KST on July 3. Crypto Briefing dated the announcement July 2. The notice first set trading for 15:00 KST that day. At 14:53 it moved the start to 19:00, and at 18:40 it moved it again to 10:00 KST on July 4. MPLX trades in BTC and USDT markets only, with deposits on Solana.

Correction An earlier version of this page said MPLX opened on July 3 at 7:00 PM KST. That was the first delay. Upbit's final notice sets the start at 10:00 KST on July 4.

Figure 01MPLX's opening time on Upbit, from the exchange's notice. All times KST.

Upbit set prior-close references of 0.00000034 BTC and 0.02079 USDT, close to where the token traded on LBank and Raydium. It blocked buy orders for about five minutes, restricted sell orders more than 10 percent below the close, and allowed only limit orders for about two hours.

Bithumb added a won market with a reference price of 32.09 won, about two US cents, in line with LBank, Raydium and Orca. Metaplex's July round-up says MPLX went live on Upbit and Bithumb in early July and was added to the Binance Alpha Box on July 14. We could not confirm the exact Bithumb day. Upbit's notice list shows no caution or delisting notice for MPLX through October 6.

CoinGecko showed MPLX at $0.05375 on October 7, down 10 percent in 24 hours and 2.6 percent over seven days. The market cap was $25.2 million on 468.8 million circulating tokens of 1 billion, with daily volume of $1.88 million. The all-time high is $0.8968 and the low is $0.01769. CoinGecko's busiest venues are Raydium, LBank, Bybit and Orca. On September 6 the price was near $0.033.

What MPLX is and what the project reports

Metaplex is the minting layer of Solana. Crypto Briefing says it handles roughly 99 percent of tokens and NFTs on the chain, with more than 923 million assets created and over $10 billion in transaction value. MPLX governs the Metaplex DAO, and 50 percent of the prior month's protocol revenue goes to MPLX buybacks.

Metaplex's own round-ups give the revenue picture. July was Core's biggest month ever, with 918,000 new mints and $253,000 of revenue, up 25 percent from June. The DAO bought 3.8 million MPLX with $101,000 and holds 305 million tokens, or 30.5 percent of supply.

August was lower on mints and revenue. Core mints fell to 499,000 and revenue to $226,000, the second-highest month since March. The DAO bought 7.1 million MPLX, 0.7 percent of total supply, and now holds 345 million, or 35 percent. A Claynosaurz token sale on Metaplex drew $1.2 million in deposits from more than 1,800 backers between August 25 and 27.

Metaplex protocol revenue by product, August 2026
$0K $50K $100K Token Metadata: $89K $89KToken Metadata Genesis: $64K $64KGenesis Core: $62K $62KCore Other: $10K $10KOther
Figure 02Revenue in thousands of dollars from Metaplex's August round-up, which reports $226,000 in total: Token Metadata $89,000, Genesis $64,000, Core $62,000 and other $10,000.

The earlier version of this page attributed the 918,000 mints and $253,000 to an August 19 recap. They come from the July round-up, which Metaplex published on August 15.

Risks and open questions

The cash-flow link makes MPLX easier to read than most governance tokens, closer to a toll booth than a narrative trade. Traffic is the risk: Solana asset issuance runs hot and cold with meme cycles and NFT seasons, and August's revenue was below July's.

Metaplex is also widening its scope. It announced Vantage, a modular trading terminal, on September 23, in beta with a waitlist. It announced MPL-3643 on September 28, a standard for permissioned real-world assets and tokenized securities on Solana, in limited-access alpha with Orca, Raydium, Solflare, Jupiter and Phantom as launch partners. Neither product reports usage figures yet.

Tokens that move from DEX pools to Upbit tend to reprice sharply and then spend weeks finding a level. Our guide to reading tokenomics covers the float and unlock checks, and the same graduation pattern appears on the Backpack BP page and the Fartcoin listing.

What to watch:

  • Vantage leaving beta and MPL-3643 leaving limited alpha.

  • Metaplex's September round-up, for revenue and buyback figures.

  • Any exchange notice on MPLX.

Nothing here is trading advice.

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.