The hottest topic in the domestic crypto community these days is undoubtedly the unprecedented pace of Upbit's listings. News of new support has been emerging almost daily throughout August. On the 10th, they shocked investors by listing six tokens at once. With 59 new assets added to the KRW market alone this year, they seem determined to outpace their competitors.

The background to this aggressive strategy is Dunamu's recently released lackluster Q2 performance. Operating profit plummeted by 73.3% compared to the previous quarter. Given a business model where over 97% of revenue depends on trading fees, it is widely seen as a desperate measure to boost trading volume during a market slump. The increasing trend of domestic users turning to overseas exchanges likely served as a significant catalyst as well.

While this surprise listing boom may inject some short-term vitality, it is questionable whether it can serve as a sustainable growth model for the exchange. As this is a time when it's easy to get caught up in the extreme volatility immediately following a listing, it seems necessary to stay calm and not get swept away by the community's sentiment.