Recently, Upbit captured market attention by listing multiple assets simultaneously, including Lido (LDO), Osmosis (OSMO), Amp (AMP), Peaq (PEAQ), Kamino (KMNO), and Morpho (MORPHO). In the past, a listing on a major exchange was effectively seen as a guaranteed catalyst for short-term price appreciation, but the current trend is showing a different pattern.

After temporary volatility on the day of listing, most of these assets failed to maintain an upward trend, leading to sideways movement or even weakness. Currently, tokens like KMNO, MORPHO, and OSMO are recording declines over the last 24 hours, and AMP remains at the bottom without a significant rebound. Except for LDO, which saw a large inflow immediately after its listing, the effect of local liquidity injection is not as powerful as it used to be.

This phenomenon demonstrates that the broader risk-off sentiment currently weighing on the crypto market is acting more strongly than liquidity boosters from individual exchanges. Investors are prioritizing securing cash or defensive positions over aggressive new FOMO buying amid geopolitical risks and global regulatory uncertainty.

Ultimately, when market sentiment is cooled, listing announcements on major exchanges are likely to remain nothing more than short-term, event-driven volatility. For the time being, a conservative approach focusing on observing macroeconomic liquidity recovery rather than reacting sensitively to individual listing news seems necessary.