Upbit opened a Korean won market for PUFFER at 14:00 KST on October 15, 2026, 20 minutes after posting the notice. Puffer's token spiked 244 percent on Upbit's BTC pair within the hour, then closed well off the high. CoinGecko shows $0.047 on October 16, up 113 percent in seven days and 95 percent below the 2024 record.

Where it stands

Upbit's notice 6659 went up at 13:40 KST and named a single network, Ethereum, and a single contract address. The usual Upbit opening rules applied: no buy orders for about five minutes, no sell orders more than 10 percent below the reference price for the same period, and limit orders only for about two hours. The reference price was the BTC market's previous close of 0.00000032 BTC, or 35.31 won.

This is Upbit's second PUFFER listing. The exchange opened BTC and USDT markets on December 5, 2024 at 15:00 KST, two months after the token launched, Bloomingbit reported at the time. Bithumb, the other large Korean venue, had opened a won market on November 25, 2024, listed at 422 won, per CoinGape. A won pair on Upbit is where Korean retail flow concentrates, which is why a two-year-old token can move this much on a market addition.

Figure 01PUFFER's Korean listings, from The Block, CoinGape, Bloomingbit and Upbit's notice. The record price is CoinGecko's.

Upbit also opened a two-day challenge at the project's request, from 09:00 KST on October 16 to 23:59 KST on October 17. Traders who turn over 1 million won on PUFFER/KRW get a random box of 140 to 180 PUFFER, first 1,000 only. Those who turn over 100 million won get 14,000 to 25,000 PUFFER, first 20 only. Ranking prizes go to top traders, top net depositors and top holders. Entry requires consent to marketing messages, which the notice states in bold.

How it traded

The first match on the won pair printed at 93 won, Bloomingbit reported, and Upbit's daily candle confirms it as the open. The pair reached 118 won, 26.9 percent above the first trade, then slid to a 66.6 low and a 69.3 close. Turnover on the won pair was about 52.8 billion won for the day, roughly $37 million. The BTC pair told a wilder story: from 0.00000032 to 0.00000110 BTC at the peak, a 244 percent rise, before closing at 0.00000062.

PUFFER on Upbit's won market, in won
0 won 50 won 100 won Reference: 35.31 35.31Reference First match: 93 93First match Oct 15 high: 118 118Oct 15 high Oct 15 close: 69.3 69.3Oct 15 close Oct 16: 63.1 63.1Oct 16
Figure 02Reference price from Upbit's notice (the BTC market's previous close converted to won), then Upbit's daily candle data for October 15 and the October 16 price when this page was checked.

The move started before the first won trade. TokenPost reported a 155 percent rise in eight minutes to about $0.06 as the notice spread across global venues. By October 16 CoinGecko showed $0.0471, a market cap of $27.1 million and $46.7 million of 24-hour volume, which is more than the market cap. About 574.9 million of the 1 billion supply circulates. The all-time high of $0.99 came on December 7, 2024, two days after the first Upbit listing.

That sequence is the pattern our exchange listings guide describes. A notice with 20 minutes' warning gives no time to position, so the first candle is set by whoever is fastest, and the reference-price rules mute the first five minutes by design. The won pair then opened at 2.6 times the reference and has traded below its first match since. PONS and POD followed similar arcs on Upbit this month.

What Puffer is, and what to watch

Puffer started as a liquid staking protocol and expanded to liquid restaking on EigenLayer, The Block reported at the token launch. Its UniFi product line includes a based rollup, which lets Ethereum's own validators order transactions instead of a centralised sequencer, and UniFi AVS, a preconfirmation service meant to speed up rollups. Upbit's notice gives the same description and lists PUFFER as a governance token.

The supply is fixed at 1 billion. The Block's breakdown at launch was 40 percent for the ecosystem and community, 26 percent for investors, 20 percent for early contributors and advisors, 13 percent for airdrops and 1 percent for Ethereum core development. Only 102.3 million tokens were in the initial supply, against 574.9 million circulating now, so most of the float arrived through vesting. We did not find a current unlock calendar on a primary source and do not give one here.

What to watch:

  • October 17, 23:59 KST: the end of Upbit's challenge, after which the promotional turnover stops.
  • Whether the won pair holds above the 66.6 low of listing day, or returns toward the 35 won reference.
  • Any Upbit caution notice. The exchange flags thin or volatile markets that way, and PUFFER's volume now exceeds its market cap.

The original PUFFER airdrop closed on January 14, 2025. There is no live claim, so any page or message offering one is a drainer. 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.