South Korean cryptocurrency markets were shaken by three significant exchange moves today: Upbit, the country's largest exchange, listed CFG, the native token of Centrifuge, which brings real-world assets to the blockchain; Bithumb added GWEI, the token of the Ethergas project, to the KRW (South Korean Won) market. On the other hand, Upbit decided to delist DENT, the token of the mobile data ecosystem. These developments immediately resonated in the markets; CFG and DENT, in particular, made headlines with sharp price movements.
CFG: Rises 187% on Upbit Listing News
Upbit's decision to list CFG triggered a rally of up to 187% in the token's price. Centrifuge (CFG) is a decentralized asset finance protocol that connects the DeFi world with real-world assets (RWA). The project transforms traditional financial instruments such as invoices, real estate, and copyrights into NFTs, making them usable as collateral in DeFi liquidity pools. Thus, businesses can access financing without needing intermediaries like banks, while investors can achieve stable returns unrelated to the volatility of the crypto market.
Centriuge migrated as an ERC-20 token on Ethereum in 2025; this move unified governance under a single umbrella. In August 2025, the protocol's total value locked (TVL) exceeded $1 billion; Janus Henderson's AAA-rated CLO product and Grove's $250 million allocation played a decisive role in this growth. The Upbit listing accelerated the reflection of this momentum in the market.
Listing on an exchange in South Korea is considered one of the strongest catalysts globally for a token, especially in the case of Upbit. Upbit's daily trading volume sometimes exceeds billions of dollars, and sudden liquidity fluctuations created by South Korean investors in small market cap tokens can lead to price divergences, also known as "kimchi premium."
Bithumb Lists GWEI: Ethergas in South Korea
With Bithumb's GWEI listing, the Ethergas project has made a strategic expansion into South Korea's burgeoning crypto market. The $GWEI token is the native asset of the Ethergas project, referencing gas fees on the Ethereum network. As is known, every transaction on the Ethereum network is subject to a computational cost called "gas"; these costs are measured in Gwei, which is one billionth of an ETH. Ethergas aims to build an ecosystem that tokenizes the gas market and develops tools in this area.
Bithumb, which houses more than 440 digital assets, continues to be one of South Korea's leading KRW-based trading platforms. However, the exchange came to public attention in February 2026 due to a major error originating from its internal system: Bithumb accidentally transferred 620,000 Bitcoin instead of distributing 620,000 won (approximately $428) to its customers; This error caused Bitcoin's price to drop by 17% specifically on Bithumb, prompting an investigation by the South Korean Financial Supervisory Service.
DENT Rises Despite Delisting
Upbit's decision regarding DENT caused an interesting price fluctuation. Before the delisting decision was announced, Upbit had marked DENT as a "Token to Watch." Despite the delisting news, DENT's trading volume surged to approximately $77 million in the last 24 hours, registering an increase of over 7,100% compared to the previous day; the price rose by approximately 100% in a single day.
DENT is the native token of a decentralized mobile data exchange platform operating on the Ethereum blockchain. The project allows users to buy and sell unused mobile data quotas in exchange for DENT tokens; it aims to reduce roaming costs and make the global telecommunications sector more accessible. Upbit's reasons for the delisting have not yet been publicly disclosed in detail; However, the stock exchange's known standards include project transparency, technological security vulnerabilities, and investor protection criteria.
