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New Altcoin Gets Double Listing from South Korean Exchanges

<p class="text-left mb-4 ">South Korea's leading cryptocurrency exchanges, Upbit and Bithumb, have announced new listings for PROS, the native token of Pharos. Upbit announced that PROS, which is scheduled to launch its mainnet on April 28, 2026, will be available for trading on the KRW, BTC, and USDT markets, while Bithumb announced it will add the PROS/KRW trading pair to its platform. Thus, Pharos, one of the new Layer-1 projects, has gained more visibility in the South Korean market with support from two major exchanges on the same day.</p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/ekran-g-r-nt-s-2026-05-08-132343-a1fef350.webp" alt="Ekran görüntüsü 2026-05-08 132343.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/ekran-g-r-nt-s-2026-05-08-132309-b9f60e1a.webp" alt="Ekran görüntüsü 2026-05-08 132309.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p><p class="text-left mb-4 ">According to Upbit's announcement, Pharos trading will begin on May 8th on the KRW, BTC, and USDT markets. The exchange stated that deposits and withdrawals will only be supported through the Pharos network. Transfers from other networks will not be supported. Therefore, incorrect network usage could lead to risks such as uncredited assets or extended refund processes. Some temporary restrictions will also be applied during the listing process to ensure transaction security. Upbit will restrict buy orders for approximately the first 5 minutes after trading support begins. During the same period, sell orders below 10% of the previous closing price will also not be allowed. Furthermore, only limit orders will be available for the first two hours. Market orders and other conditional order types will be disabled during this time.</p><p class="text-left mb-4 ">According to data shared by the exchange, the previous closing price for PROS was 900.37 KRW, 0.00000774 BTC, and 0.621 USDT. As of May 8th, the latest prices were 990.89 KRW, 0.00000845 BTC, and 0.6759 USDT. This indicates an upward movement in the token price prior to the listing.</p><p class="text-left mb-4 ">A similar step has been taken by Bithumb for PROS. The exchange announced on its social media account that the PROS/KRW trading pair will be listed. KRW trading pairs are considered important in the South Korean market in terms of local investor interest. Therefore, the Upbit and Bithumb listings stand out as a noteworthy development for PROS in terms of short-term trading volume and market visibility.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">What is Pharos?</h2><p class="text-left mb-4 ">Pharos is developed as an EVM-compatible Layer-1 blockchain network. The project uses an asynchronous BFT-based Proof-of-Stake consensus algorithm. The network's main goal is to provide a high-performance infrastructure for Web3 applications and real-world assets. Pharos aims to build an ambitious structure, especially in terms of scalability, with its parallel transaction architecture.</p><p class="text-left mb-4 ">According to the project's statements, the network aims for a capacity of approximately 30,000 transactions per second, a processing power of 2 Gigagas, and a block production time of less than 1 second. Pharos also plans to build an infrastructure that can support very large user bases. These goals are particularly important for RWA, or real-world asset-focused financial applications.</p><p class="text-left mb-4 ">Another noteworthy aspect of the Pharos ecosystem is the RealFi Alliance initiative. Through this structure, the project aims to make financial processes such as asset issuance, circulation, and revenue generation more integrated on the chain.</p><p class="text-left mb-4 ">The PROS token is used within the network for transaction fees, staking, and ecosystem incentives. Listing the token on major South Korean exchanges like Upbit and Bithumb could increase the new altcoin's access to liquidity. However, price volatility is generally high with new listings. Therefore, investors need to carefully monitor both transaction restrictions and price differences between exchanges. It's worth noting that it experienced a 30% <a href="https://jrkripto.com/tr/coin/pros-3" target="_blank" rel="noreferrer" class="text-primary underline">increase </a>at the time of writing.</p>

8 May 2026

Bitcoin's December 25th Calculation: $6 Billion Worth of Options Market Chaos

<p class="text-left mb-4 ">While expectations for the end of the year are strengthening again in the Bitcoin market, data from the options side shows that investors are not exhibiting one-sided optimism. According to Deribit data, the open interest in Bitcoin options with a December 25 expiry date has reached $6 billion. While this figure initially points to a very strong bullish expectation, the details reveal that the picture needs to be read more balanced.</p><p class="text-left mb-4 ">Bitcoin has gained approximately 33 percent in value since its year-to-date low of $60,130 on February 6th. This rise has brought more optimistic price targets for the end of the year back into the spotlight. In particular, the high open interest accumulated in call options above $115,000 has been interpreted as the market pricing in a strong upward possibility. However, high open interest in the options market does not always directly mean a price expectation.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Deribit stands out in year-end options</h2><p class="text-left mb-4 ">Deribit's share in December <a href="https://jrkripto.com/tr/coin/btc" target="_blank" rel="noreferrer" class="text-primary underline">Bitcoin </a>options is quite high. With $5.5 billion in open interest, the platform holds approximately 92 percent of the total market in this area. However, the actual value at expiry may be much lower than the current open position size. This is because a significant portion of these positions are not opened for direct directional betting purposes, but rather as part of hedging or neutral strategies.</p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/deribit-56e6f120.webp" alt="deribit.jpg" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p><p class="text-left mb-4 ">In the options market, investors don't just take simple positions betting on the price reaching a certain level. Strategies built with different expiries, different strike prices, and reciprocal positions can generate profit even if the price doesn't move sharply. Therefore, interpreting the $6 billion open position alone as "Bitcoin is definitely preparing for a major surge at the end of the year" doesn't seem healthy. Call options are dominant, but extreme targets exist on both sides.</p><p class="text-left mb-4 ">At Deribit, put options remain 56% lower than call options. This trend in the put-call ratio is not surprising, given that investors in the crypto market are naturally more optimistic. Nevertheless, the fact that there are $1.85 billion in open positions in call options above $115,000 is noteworthy. This picture shows that Bitcoin investors are keeping quite high prices on the table for the end of the year. However, similarly, there is a significant accumulation of positions on the sell side for extreme scenarios. Open positions in put options below $55,000 reach approximately $1 billion. This reveals that a considerable amount of positions have been opened in price zones considered "low probability" on both the bull and bear sides.</p><p class="text-left mb-4 ">In other words, concluding that the market is overly optimistic by only looking at call options may be incomplete. On the bear side, there is similarly positioning for sharply declining scenarios. The fact that approximately half of the open positions are tied to distant price targets on both sides shows that investors are not only making directional predictions but also trying to manage portfolio risk. Professional investors are pricing in downside risk.</p><p class="text-left mb-4 ">One of the indicators that gives clearer signals in option pricing is the delta skew metric. This indicator measures how investors premium upside and downside risks. On Deribit, six-month Bitcoin put options are trading at a 9% premium compared to equivalent call options. In neutral market conditions, this indicator is generally expected to remain in the range of minus 6% to plus 6%. A 9% put option premium indicates that professional investors are cautious about a potential pullback in Bitcoin. While this doesn't signal panic in the market, it reveals that downside risks are not being ignored. The lack of significant relief in derivatives markets despite Bitcoin's recovery towards the $80,000 level is also important in this respect. High-strike call options, on the other hand, allow investors to participate in large bullish scenarios at a relatively low cost. For example, a call option with a strike price of $120,000 offers an investor the potential to profit if Bitcoin reaches much higher levels by the end of the year, at a limited cost. Such positions may be part of an asymmetric return quest rather than a direct expectation of a strong bull run. Therefore, interpreting the $1.85 billion high-price target call option position solely as excessive bullish confidence can be misleading. Interest in the Bitcoin options market for the end of the year is high, but professional investors are simultaneously seeking protection against downside risks. The market remains cautious while keeping the possibility of an uptrend on the table.</p>

8 May 2026

South Korea to Impose 22 Percent Crypto Tax: Date Clarified

<p class="text-left mb-4 ">South Korea has finally announced its long-delayed <a href="https://jrkripto.com/tr/analytics" target="_blank" rel="noreferrer" class="text-primary underline">cryptocurrency </a>tax. The country's Ministry of Finance confirmed that the tax on virtual asset gains will go into effect as planned in January 2027. This marks one of the first clear public statements from the government regarding the regulation, which has been postponed several times. The announcement came at an emergency virtual asset taxation forum held at the National Assembly Members' Office Building in Seoul. According to Edaily, a South Korean news outlet, the forum was organized by People's Power Party lawmaker Park Soo-young and the Korea Tax Policy Association. Moon Kyung-ho, Director of the Income Tax Office at the Ministry of Finance, stated, "We will implement the virtual asset taxation as planned in January of next year." Under the current Income Tax Law, gains from the transfer or lending of crypto assets will be categorized as "other income" starting January 1, 2027. Investors whose annual crypto earnings exceed 2.5 million won, or approximately $1,800, will be subject to tax. The tax rate will be 22% overall. 20% of this will be income tax, and 2% will be local tax.</p><p class="text-left mb-4 ">The regulation is said to affect approximately 13.26 million investors. This number also shows how broad an individual investor base the crypto market has reached in South Korea. In recent years, transactions made through large platforms such as Upbit and Bithumb have become more of a focus for both regulators and politicians in the country.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Tax guide to be published in 2026</h2><p class="text-left mb-4 ">Moon Kyung-ho said that the National Tax Service is continuing its preparations for the new system. It was reported that the institution held multiple working-level meetings with the country's five largest cryptocurrency exchanges. These exchanges include Upbit, Bithumb, Coinone, Korbit, and Gopax, all operated by Dunamu. The draft notification is expected to be submitted to legislative review in 2026. In his statement to reporters after the forum, Moon retracted the word "soon," clarifying that the notification will be published later in the year, not immediately. This detail shows that the technical framework of the application is still in the final stages.</p><p class="text-left mb-4 min-h-[1.5em]"></p><p class="text-left mb-4 ">South Korea's crypto tax has been postponed twice before. Initially expected to come into effect earlier, the regulation was pushed back from 2025 to 2027 due to political disagreements, industry objections, and concerns about the technical readiness of exchanges. Recently, the ruling People's Power Party's proposal to completely abolish the tax has reignited the debate. The sector is also reacting negatively to proposed changes to anti-money laundering regulations.</p><p class="text-left mb-4 ">While the tax debate continues, the South Korean crypto sector is also reacting negatively to proposed changes to anti-money laundering regulations. DAXA, which represents the 27 registered virtual asset service providers in the country, argues that the new rules are impractical.</p><p class="text-left mb-4 ">According to the proposal, exchanges would be required to flag all overseas-linked transfers of 10 million won or more as suspicious transactions. According to DAXA, this requirement could increase the number of reported cases from approximately 63,000 last year to over 5.4 million. Industry representatives state that an increase of this scale would make compliance processes practically unmanageable.</p><p class="text-left mb-4 ">The Financial Services Commission and the Financial Intelligence Unit proposed these changes on March 30. The public consultation period will continue until May 11. The final rules are expected to be announced in July.</p>

7 May 2026

US Sets July 4th Target for Crypto Law: All Eyes on the Senate

<p class="text-left mb-4 ">A new deadline has emerged for a comprehensive bill aimed at regulating the cryptocurrency market at the federal level in the US. White House <a href="https://jrkripto.com/tr/analytics" target="_blank" rel="noreferrer" class="text-primary underline">crypto </a>advisor Patrick Witt stated that they aim to pass the broad crypto regulation by July 4th. Speaking at the Consensus conference in Miami, Witt indicated that the Senate could advance the bill in June, leaving enough time for the House of Representatives to approve its own version.</p><p class="text-left mb-4 ">Witt also emphasized the symbolic significance of this date for the US. Because July 4th is the country's Independence Day, he stated that passing the crypto legislation by this date would be "a great birthday present for America." Passing such legislation as the US approaches its 250th anniversary is seen as a historic turning point for the crypto sector.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">June timeline emerges in the Senate</h2><p class="text-left mb-4 ">For the past year, the US Senate has been working on a bill that would regulate the crypto sector at the federal level for the first time. The main goal of the bill is to clarify the sharing of authority over crypto assets. In this context, the goal is to separate the areas of responsibility between the Commodity Futures Commission and the Securities and Exchange Commission.</p><p class="text-left mb-4 ">The crypto market has long complained about regulatory uncertainty in the US. Many companies are demanding clearer rules on which assets are considered securities, which products fall under the category of commodities, and which institution has jurisdiction in which area. Therefore, the progress of the bill is being closely followed not only as a political development but also in terms of the future of the sector. The House of Representatives had previously passed its own version of the bill. However, differences are expected between the text that will emerge from the Senate and the House version. Therefore, the two chambers will need to reconcile the texts. According to Witt's statements, the White House believes that the July 4 target is still achievable if the Senate process progresses in June. </p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Stablecoin rewards and ethical debates on the table</h2><p class="text-left mb-4 ">One of the most important points of disagreement in the bill was stablecoin rewards. In the discussions in the Senate Banking Committee, how to handle the return or reward-like structures provided to users in stablecoin products came to the fore. The compromise text published last week reportedly largely resolved the deadlock on this issue. However, some trade groups representing the banking sector argue that the language used is still insufficient. It is stated that the Senate Banking Committee could move to consider, amend, and vote on the bill as early as next week. Nevertheless, the bill faces more than just technical regulatory issues. Recently, ethical debates have also become central to the process.</p><p class="text-left mb-4 ">Some Democratic senators have expressed concerns about President Donald Trump and his family's connections to the crypto sector. The fact that Trump and his wife Melania Trump were involved in memecoin projects before their inauguration, and that the Trump family was involved in the World Liberty Financial DeFi and stablecoin project, has strengthened the Democrats' demand for ethical provisions.</p><p class="text-left mb-4 ">Speaking at the Consensus conference, Democratic Senator Kirsten Gillibrand stated that the bill would not be supported without ethical regulations. This statement indicates that for the crypto bill to pass the Senate, consensus is needed not only on market structure and stablecoin rules, but also on limits regarding the crypto activities of public officials. </p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">The White House is optimistic about reaching a compromise</h2><p class="text-left mb-4 ">Patrick Witt said that talks with the Democrats have been progressing well recently. According to Witt, the Democrats are consistently advocating that the ethical language to be drafted should not target a specific family, a single politician, or a particular individual. The White House advisor stated that they are close to reaching a compromise on this issue and that the remaining topics can be closed. Witt argued that the rules should be written broadly, applying to everyone from the current president to a new intern working on Capitol Hill. According to him, the problem is not that the Presidency is included in the scope of the regulation; it is that the regulation is being drafted in a way that targets a single person or a specific office holder.</p>

7 May 2026

'New Era' Message in the Crypto Market: The Four-Year Cycle is Over

<p class="text-left mb-4 ">Bitwise Asset Management CEO Hunter Horsley said that the long-referenced four-year cycle narrative in the <a href="https://jrkripto.com/tr/analytics" target="_blank" rel="noreferrer" class="text-primary underline">crypto </a>market is no longer valid. Speaking in Miami as part of Consensus 2026, Horsley stated that investors should not expect the market to recover according to the old timeline.</p><p class="text-left mb-4 ">According to Horsley, in the past, the crypto market was generally interpreted as three years of ups and one year of downs. However, the weak market outlook experienced last year indicated that this pattern has broken down. Therefore, the Bitwise CEO argued that the "four-year cycle is dead," suggesting that the sector has now entered a different phase. </p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Emphasis on the new era in the crypto market</h2><p class="text-left mb-4 ">Horsley stated that old patterns and reflexes from the previous era no longer provide sufficient guidance to investors in the crypto market. According to him, the sector is moving towards a new structure that is more institutional, more widely participated in, and where fewer large players are decisive.</p><p class="text-left mb-4 ">While describing this change, the Bitwise CEO used Winston Churchill's frequently quoted saying, "This is not the end, nor the beginning of the end, but the end of the beginning." According to Horsley, the crypto sector has now moved beyond its early stages and is approaching a more mature market structure. The topics of discussion are also changing in this new era. Horsley stated that traditional financial giants like Morgan Stanley are now more prominent in crypto conversations than in-house companies like Gemini. He also noted that with the stablecoin supply exceeding $300 billion, market interest is shifting not only to altcoins but also to payment and financial infrastructure.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">A "juggernaut" comment for Strategy's new instrument</h2><p class="text-left mb-4 ">Another point Horsley highlighted was Stretch, a preferred investment vehicle developed by Michael Saylor's company, Strategy. This structure stands out with elements such as Bitcoin collateral, stable net asset value, and a target return of over 10%.</p><p class="text-left mb-4 ">The Bitwise CEO described Strategy's product as a "juggernaut" and said the structure is still in its early stages. According to him, while Stretch may seem unusual at first glance, it addresses one of investors' fundamental needs: a Bitcoin-collateralized, income-oriented, and price-capable instrument. Horsley also predicted that this structure could become widespread across the sector within the next 12 months. In this scenario, Bitcoin could find a greater place not only as a spot market or treasury asset, but also in fixed-income products. The Bitwise CEO stated that Michael Saylor's financial engineering approach plays a significant role in this transformation. However, the picture on the Strategy side is not entirely risk-free. While the company's STRC product reached record transaction volume last month, it was also noteworthy that Saylor acknowledged the possibility of selling from the Bitcoin treasury. This possibility is seen as a significant break from the company's long-held "no selling Bitcoin" approach.</p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/ekran-g-r-nt-s-2026-05-07-145627-a8e4d8b5.webp" alt="Ekran görüntüsü 2026-05-07 145627.png" width="auto" height="auto" class="w-full rounded-lg border" /> <figcaption class="mt-2 mb-6 text-center text-sm text-gray-500">Strategy is the company that holds the most Bitcoin.</figcaption> </figure> </p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">The payment narrative for Bitcoin may return</h2><p class="text-left mb-4 ">Horsley also approached the idea of ​​Bitcoin being seen only as a store of value with caution. According to him, the vision of Bitcoin as a payment tool from its early days has not completely disappeared; it simply means the market needed to solve a different issue first.</p><p class="text-left mb-4 ">The Bitwise CEO said that the main debate in the last 10 years has revolved around whether Bitcoin is valuable or not. Horsley noted that hundreds of millions of people hold BTC today, and there is a stronger acceptance of Bitcoin's value across broader segments of the market. According to Horsley, this creates a more favorable environment for the resurgence of Bitcoin's use cases in the payments sector.</p>

7 May 2026

Altcoin

New Altcoin Gets Double Listing from South Korean Exchanges5 minutes ago

BTC

Bitcoin's December 25th Calculation: $6 Billion Worth of Options Market Chaos27 minutes ago

Regulation

South Korea to Impose 22 Percent Crypto Tax: Date Clarifiedabout 20 hours ago

Regulation

US Sets July 4th Target for Crypto Law: All Eyes on the Senateabout 21 hours ago

BTC, Altcoin

'New Era' Message in the Crypto Market: The Four-Year Cycle is Overabout 23 hours ago

Altcoin

New Altcoin Gets Double Listing from South Korean Exchanges5 minutes ago

BTC

Bitcoin's December 25th Calculation: $6 Billion Worth of Options Market Chaos27 minutes ago

Regulation

South Korea to Impose 22 Percent Crypto Tax: Date Clarifiedabout 20 hours ago

Regulation

US Sets July 4th Target for Crypto Law: All Eyes on the Senateabout 21 hours ago

BTC, Altcoin

'New Era' Message in the Crypto Market: The Four-Year Cycle is Overabout 23 hours ago

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