Upbit Lists SUN Token on KRW and USDT Markets

Leading South Korean crypto exchange Upbit has officially listed SUN (SUN), the governance token of TRON‑based DeFi platform SUN.io, with trading pairs in Korean won (KRW) and Tether (USDT). Trading support began at 12:00 KST on Monday, following approval from South Korea’s Financial Supervisory Service (FSS) earlier this year.

Network and trading details

According to Upbit’s listing notice, SUN deposits and withdrawals are only supported on the TRON network, with the verified contract address provided as:

TSSMHYeV2uE9qYH95DqyoCuNCzEL1NvU3S

Transfers made via other networks will not be processed. To comply with Korea’s Travel Rule, deposits from exchanges not included in the list of eligible Virtual Asset Service Providers (VASPs) may also face rejection, with return procedures requiring extended processing times.

Additionally, Upbit imposed standard protective measures:

• For the first five minutes of trading, buy orders are restricted.
• Sell orders more than 10% below the prior day’s BTC‑market reference closing price are blocked for five minutes.
• For approximately two hours post‑launch, only limit orders are supported (no market/stop orders).

Liquidity is supported by Dom Maklerski Banku Ochrony Środowiska S.A., designated as the SUN market maker.

About SUN

SUN operates within the TRON (TRX) ecosystem and functions as a governance and staking token on the decentralized finance (DeFi) platform SUN.io.

The platform provides multiple DeFi services, including:

• SunSwap (automated market maker and pairs trading)
• StableSwap (stablecoin liquidity pools)
• Mining Pool (yield farming)
• Sun Pump (memecoin/token launch features)

In 2023, SunSwap launched its V3 upgrade adding customizable liquidity ranges and fee tiers. In 2024, the project introduced Sun DAO, a governance mechanism driving community participation in protocol decisions.

SUN tokens can be staked through long‑term mechanisms such as veSUN, used to pay protocol fees, and participate in governance proposals.

Market reaction

Within hours of the Upbit listing, SUN surged more than 30%, rising from $0.025 to $0.034, before consolidating near $0.030, still up around 20% compared to pre‑listing levels. CoinGecko data shows SUN now holds a market cap of $588 million with a fully diluted value of $608 million.

Global trading volumes remain focused on Binance, HTX, and Bybit, though Upbit has quickly captured more than 12% of 24‑hour SUN liquidity.

Competition among Korean exchanges

The SUN listing comes amid heightened competition between Upbit and Bithumb, currently the two largest domestic exchanges by trading volume. Over the past month, Upbit has expedited new token listings to reinforce its dominance, while Bithumb has responded with strategic listings such as the 0G token, an artificial intelligence infrastructure crypto project that also launched September 22.

The convergence of these parallel listings highlights a broader trend in South Korea: exchanges racing to secure early‑stage altcoin exposure for local traders while balancing regulatory requirements and investor protections.

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