Upbit lists MPLX and NEX as Korean exchange adds 2 altcoins

Upbit, South Korea's largest crypto exchange, listed Metaplex (MPLX) and Nexus (NEX) tokens for trading in BTC and USDT markets on July 2.

Upbit, operated by Dunamu, serves as the primary gateway to South Korea's active retail trading base, a market that has repeatedly demonstrated its ability to move prices with sheer volume, according to the exchange's listing announcement. The so-called Kimchi premium, where Korean exchange prices diverge from global averages, is a recurring phenomenon tied to local demand intensity.

MPLX, the governance token of the Metaplex DAO on Solana, has facilitated the minting of more than 923 million assets, generating over $10 billion in cumulative transaction value, per the protocol's data. The platform claims to power roughly 99 percent of tokens and NFTs on the Solana blockchain. About 50 percent of protocol revenue goes toward MPLX buybacks, creating a recurring demand source that reduces circulating supply over time. MPLX has been trading near $0.02 on smaller venues including LBank, Raydium and Orca.

NEX, a Layer 1 blockchain focused on verifiable finance using zero-knowledge virtual machine technology, has a total token supply of 100 trillion, with 60 percent currently circulating. The token previously received a listing on Coinbase Advanced in May 2026.

For MPLX, the structured buyback mechanism gives the token a fundamentally different profile from a pure speculative play, as protocol revenue is redirected into open-market purchases. For NEX, the large token supply means even significant trading volume may produce muted price impact relative to lower-supply assets. Both tokens now gain access to one of Asia's highest-volume exchanges, where Korean retail traders have historically driven sharp price appreciation for newly listed altcoins.

This article is for informational purposes only and does not constitute investment advice.