Infinit (IN) Token Surges After Upbit Listing, Drawing High Volume in Korean Won Market

Executive Summary

Upbit, a leading South Korean cryptocurrency exchange, has listed the Infinit (IN) token, an AI-powered decentralized finance (DeFi) intelligence platform, initiating trading pairs including the Korean Won (KRW). The announcement led to an immediate and significant price surge for IN, with the token experiencing a nearly 100% increase on the day of the listing. This event generated substantial trading volume, signaling considerable market interest, particularly from retail investors in the South Korean market.

The Event in Detail

On September 25, 2025, Upbit announced the listing of Infinit (IN) across its BTC, USDT, and KRW markets. Infinit is characterized as a DeFi intelligence platform designed to simplify complex on-chain strategies through artificial intelligence, offering users natural language prompts for strategy queries, recommendations, and one-click execution across various DeFi protocols. The project, which launched INFINIT V1 in January 2025, reported approximately 170,000 users and over 450,000 on-chain transactions, and is currently transitioning to V2 with an aim to build an "Agentic DeFi Economy." The native IN token serves multiple functions within the ecosystem, including staking, governance, and accessing platform benefits.

Following its listing, the IN token's price surged from approximately $0.06 to a peak of $0.1288, marking a near doubling of its value. However, this peak was followed by a retracement, with the price settling at around $0.0884 as profit-taking activities commenced. Temporary trading restrictions were applied, limiting order types to only limit orders to manage initial volatility.

Market Implications

The listing on Upbit significantly amplified Infinit's market presence and liquidity. The token's total 24-hour trading volume reached $24.1 million, representing a 28.47% increase. Notably, the IN/KRW trading pair on Upbit alone accounted for $6.2 million, or 30%, of the total volume, underscoring the dominance of the Korean market in this event. Upbit itself commands approximately 80% of the domestic trading volume in South Korea's crypto market, making its listings potent catalysts for market activity.

Historically, new listings on Upbit have been associated with a phenomenon known as the "Upbit listing effect," characterized by rapid price appreciation driven by high retail demand and limited initial supply within the South Korean market. While Infinit experienced an initial surge, market observers note a significant weakening of this effect due to increased frequency of new listings. This suggests a maturing market where sustained price rallies are less common and fundamental value increasingly dictates long-term performance, despite the initial speculative interest.

Broader Context

Infinit's strategy emphasizes bridging the complexity of DeFi with user accessibility through AI automation. Its core offering involves AI agents converting multi-step DeFi actions into automated strategies, with a non-custodial design ensuring users retain control of their assets. The platform utilizes a deterministic agent framework for predictable execution and is built on Ethereum with integration capabilities for chains like Arbitrum.

This listing builds on Infinit's recent strategic developments, which include integration with Crypto.com Pay and fiat on-ramps into its SwitchBlade wallets on September 29, 2025, aiming to enhance Web2-Web3 usability. Earlier, on August 7, 2025, Infinit debuted on Binance Alpha, achieving a 150% 30-day gain by October 2025. The project's security framework was also tested, successfully withstanding an npm package attack that affected other crypto projects in September 2025, demonstrating resilience through its non-custodial design and transaction preview system.

Upbit's rigorous listing process often confers a degree of credibility, potentially boosting investor confidence in listed projects. However, the observed immediate price surge followed by retracement for IN, coupled with the diminished "Upbit listing effect," indicates that while exchange listings can still generate significant initial liquidity and visibility, the broader crypto market is becoming more efficient. This suggests that sustained growth for tokens like IN will increasingly depend on the demonstrable utility and ongoing development of their underlying technology rather than solely on listing events.