ESP’s 120% Surge After Upbit Listing – What Now?

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The Upbit listing news wasn’t just a whisper-it was a scream so loud it probably woke up the entire crypto community. And that’s exactly what happened to the ESP token when South Korea’s top exchanges, Upbit first and then Bithumb, decided to list it. It’s like giving a goldfish a rocket ship and expecting it to stay underwater.

The result? A vertical move. Over 120% surge to a fresh all-time high. Where we saw 24-hour volume balloon to $374.46 million. That’s not casual interest, that’s traders piling in because of listing news. Imagine a buffet with a “free pizza” sign, and everyone’s there-except the pizza, which is probably on a different planet.

Upbit Listing News Ignites ESP Demand

Before the listing, on-chain metrics were already picking up steadily. Development activity climbed this week. Daily active addresses rose to 2,019. That’s not noise that’s the reflection of usage and development of its ecosystem. Think of it as a party where everyone’s finally remembered they’re supposed to bring snacks.

And usage do matters. Espresso Systems isn’t pitching itself as just another altcoin. It’s official website shows that its building shared sequencing infrastructure for Ethereum Layer 2s. Fast finality of roughly six seconds. Cross-rollup interoperability. Decentralized block space ordering. In plain terms? Rollups don’t have to rely on a single centralized sequencer anymore. That’s infrastructure-level utility. And the ESP token sits right in the middle of it. Like a tiny, invisible octopus holding the reins of the internet.

In plain terms? Rollups don’t have to rely on a single centralized sequencer anymore. That’s infrastructure-level utility. And the ESP token sits right in the middle of it.

Utility Narrative Meets Speculation Frenzy

now governance, the holders of ESP tokens operate the DAO. For the purpose of staking, Validators are required to lock their ESP tokens to enhance network security. Consequently, the Rollups compensate in ESP’s as fees for sequencing services. It’s like a neighborhood watch where everyone’s paid in monopoly money.

So rising on-chain metrics  especially active addresses and development growth align directly with token utility. More usage means more demand pressure. That’s the theory. Which is about as reliable as a weather forecast in a hurricane.

Now layer that with enhanced liquidity from a major South Korean listing, like the upbit listing news and bitthumb listing news. Accessibility increases. Price discovery becomes sharper. Rollup developers who need ESP operationally now have deeper markets to source it. It’s like giving a fish a net and expecting it to catch a whale.

And derivatives traders didn’t sit this one out either. Proof is its Futures volume that exploded 687% to $1.98 billion. Open interest climbed 177% to $86.44 million. The long-short ratio sits at 1.0665, leaning bullish. Traders are betting so hard, they’ve probably forgotten their own names.

Liquidations tell the real story. Shorts lost $8.68 million in the past 24 hours. Long liquidations? Just $1.39 million. That’s a classic squeeze of short positions. Like a game of musical chairs where the music is a crypto crash.

ESP Price Chart After The Surge

On the 4-hour ESP price chart, the token rocketed from $0.0933 to a peak of $0.2200. That’s a dramatic move in a compressed time window. Imagine a snail sprinting faster than a cheetah. It’s possible, but you’d need a very strong cup of coffee.

Of course, profit-taking followed. Price has already cooled back to $0.1933 not unusual after a 120% spike. Momentum traders got their payday. Long-term holders are probably watching carefully. Like a parent watching a toddler eat a spoonful of chili.

So now, what happens next is on its Adoption and demand, which will decide that. If rollup utilization continues rising and staking demand strengthens, the utility loop could sustain interest. But if volume fades post-listing, volatility may take over. It’s like a rollercoaster that just hit the brakes-no one knows if it’s a pause or a crash.

For now, one thing is clear: this Upbit listing news and Bitthumb listing news didn’t just bump liquidity but it flipped the ESP price chart into overdrive. It’s like a toddler with a remote control-unpredictable, loud, and impossible to stop.

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2026-02-24 13:57