Backfill entry Dating honesty: this listing happened on July 3, 2026, a week before we wrote it up. We are adding it to the tracker for completeness, because a Korean double listing for Solana's core minting infrastructure is exactly the kind of event this board exists to record, not because anything new happened today.
Most tokens that reach Upbit arrive with a story the market already knows. Metaplex arrived with a workload the market mostly ignores. The protocol is the minting layer of Solana: when a project launches a token, an NFT collection or a compressed asset drop on the chain, the machinery doing the stamping is, in roughly 99 percent of cases, Metaplex. More than 923 million assets have been minted through it, and the protocol has historically processed over $10 billion in transaction value. On July 3, the token that governs all of that graduated from DEX pools to the largest order books in Korea.
What actually happened, and in what order
Upbit published the listing announcement on July 2, initially without confirmed pairs or a start time, which is typical of the exchange's deliberately terse style. Trading was set for July 3 at 3:00 PM KST and then pushed to 7:00 PM the same day, with MPLX opening against BTC and USDT. Bithumb moved in lockstep, adding MPLX to its Korean won market on July 3 with a reference price of 32.09 won, about two US cents, in line with where the token had been trading on smaller venues like LBank and the Solana DEXs Raydium and Orca.
Raydium, Orca, LBank. Thin books.
Terse notice, details to follow.
Start delayed to 7:00 PM KST.
Reference price 32.09 won.
The double listing pattern matters more than either listing alone. Upbit and Bithumb listing the same asset on the same day is Korea's version of a consensus vote, and it puts a token in front of one of the most active retail crypto markets in the world: Upbit alone recorded roughly $40 billion in trading volume in the first quarter of 2026. For an infrastructure token that had never had a KRW pair, that is a step change in both liquidity and the kind of holder who can reach it.
The token under the ticker
MPLX is worth understanding on its own terms, because it does not fit the usual listing archetypes. It is not a chain token, not a meme, and not an exchange coin. It is governance over the Metaplex DAO paired with a cash-flow link: 50 percent of protocol revenue is directed toward MPLX buybacks. That makes the investment case unusually legible for crypto, closer to a toll-booth equity story than a narrative trade, with the obvious caveat that the toll booth's traffic is Solana asset issuance, which runs hot and cold with meme cycles and NFT seasons.
The Korean listing does not change any of that mechanically, but it changes who is watching. Tokens moving from DEX-first obscurity to Upbit have a well-documented tendency to reprice sharply on announcement day, the so-called Upbit effect, and to spend the following weeks discovering what the enlarged audience actually thinks the asset is worth. Our standing advice from the tokenomics guide applies in full: check the float, check the unlock calendar, and treat announcement-week candles as noise until volume proves it is sticking. The same graduation dynamics we walked through on the Backpack BP page and the Fartcoin listing apply here, with one difference in MPLX's favor: its workload existed for years before its ticker reached a screen that mattered.
Not financial advice Listings often spike and then bleed once the initial hype unwinds. Nothing here is a suggestion to buy this token. Verify dates on the exchange's own announcement page before trading: schedules slip.
