What to Know
- Solana Mobile’s SKR token is now listed on Upbit with KRW, BTC, and USDT trading pairs.
- SKR powers the Seeker Web3 smartphone ecosystem and is used for rewards, staking, and governance.
- The Upbit listing announcement triggered strong market activity, with SKR trading volume jumping and price momentum rising 72%.
Solana Mobile’s native token, SKR, has secured a major new listing on Upbit, South Korea’s largest crypto exchange. The listing opens SKR trading pairs against the Korean won (KRW), Bitcoin, and USDT, marking an important milestone for Seeker.
According to Upbit’s official announcement, SKR deposits and withdrawals will be supported on the Solana network, and trading is scheduled to begin on February 24 at 16:00 Korean time.
Upbit Listing Opens Access to Millions of Traders
Upbit is widely known as South Korea’s most trusted digital asset exchange, with millions of active users. A listing on the platform is often seen as a strong signal of credibility and growth potential for crypto projects. With SKR now available for trading against KRW, BTC, and USDT, users will have multiple ways to buy and sell the token. The Korean won trading pair is especially important because it allows direct access for local investors without needing to convert into other cryptocurrencies first.
Upbit also noted that some temporary trading restrictions will be applied when SKR trading begins. Buy orders will be limited for the first five minutes, and certain order types will be restricted for about two hours to ensure stable trading conditions.
What Is SKR and the Seeker Ecosystem?
SKR is the native token of Solana Mobile’s ecosystem, which powers the Seeker smartphone. The Seeker is Solana Mobile’s second-generation Web3 phone, designed to combine crypto features directly into mobile hardware. The goal of the Seeker ecosystem is to create a more open mobile platform where developers and users can participate directly, rather than relying on traditional app store systems controlled by large tech companies.
The SKR token plays several important roles in this ecosystem. It can be used for staking, rewards, and governance. This means users can lock their tokens to help support the network and earn rewards while also participating in decisions that shape the future of the platform. The Seeker device also includes built-in crypto features such as a secure wallet, allowing users to interact with dapps easily from their phone.
Token Distribution and Early Growth
Solana Mobile began distributing SKR tokens on January 21 as part of the Seeker ecosystem launch. The total supply of SKR is set at 10 billion tokens. A large portion of the supply has been allocated to users, developers, and ecosystem growth. Around 30% was set aside for airdrops, while 25% is reserved for growth initiatives and partnerships. Additional allocations include liquidity support, community funding, and development.
The airdrop allowed Seeker phone users and developers to claim SKR directly through their devices. This approach ties token ownership directly to participation in the mobile ecosystem. Following its launch, SKR was up over 300% in 24 hours since it began trading on major centralized and decentralized exchanges, including Coinbase, Bybit, Bithumb and Meteora.
Price Momentum
The Upbit listing announcement appears to have boosted SKR’s market activity significantly. Trading volume surged by nearly 360%, reaching about $47.7 million within 24 hours. SKR’s price also showed strong momentum, rising more than 70% in a single day at one point. This increase came even as the broader crypto market declined, suggesting strong independent interest in the token.
Market analysts say that if SKR maintains strong buying interest, the price could continue rising in the short term. However, they also warn that such rapid growth can lead to volatility. At the time of writing, SKR is trading at around $0.02959.
Why the Listing Matters
South Korea is one of the world’s most active crypto markets, and gaining access to its investors can significantly boost awareness and adoption. Exchange listings often help increase liquidity, improve accessibility, and strengthen investor confidence. For SKR, being listed on Upbit could accelerate its growth and expand its global presence.
More importantly, the listing supports Solana Mobile’s larger goal of connecting crypto directly with mobile devices. By giving the SKR token wider access, Solana Mobile is building stronger foundations for its Web3 smartphone ecosystem.
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