TLDR
- Seeker (SKR) rallied 65% following its listing on South Korea’s leading exchange, Upbit
- The token’s value rose from $0.018 to peak at $0.032 in a 24-hour span
- Daily trading volume reached $61.87 million, representing a 317% increase
- Upbit activated trading on February 24 at 16:00 KST with KRW, BTC, and USDT markets
- Approximately 64% of circulating tokens remain staked, reducing available supply
The native cryptocurrency of Solana Mobile’s blockchain smartphone initiative, Seeker (SKR), experienced a 65% price surge on February 24 following confirmation from Upbit, South Korea’s dominant cryptocurrency platform, that it would enable SKR trading.
This positive momentum occurred against challenging market conditions. Bitcoin dipped under the $63,000 threshold while alternative cryptocurrencies broadly posted losses.
SKR opened at its 24-hour floor of $0.018 before advancing to $0.032 at its peak. The token stabilized near $0.027 as of press time.
Daily trading activity hit $61.87 million, representing more than a 317% spike versus typical volume figures. Such elevated activity signals substantial incoming buyer demand.
Upbit’s formal statement confirmed that SKR markets launched February 24 at 16:00 Korean Standard Time. The exchange opened three distinct trading options: KRW, BTC, and USDT pairs.
Deposit and withdrawal functionality activated 90 minutes prior to active trading. This window allowed early participants to prepare positions before the official market opening.
Why the Upbit Listing Drove the Move
Upbit represents a significant force in cryptocurrency markets. The platform commands substantial market share within South Korea’s trading ecosystem and draws both individual and institutional participants.
South Korean market participants are recognized for rapid response to new exchange additions. Upbit listings typically generate swift liquidity influx.
This dynamic manifested clearly with SKR. HTX exchange data indicates the token climbed 50% during just the final five minutes preceding the listing activation.
Supply Pressure Kept Low
One contributing factor to SKR’s sustained gains involves token distribution. Early staking programs have secured roughly 64% of available circulating supply.
When significant token quantities remain locked in staking contracts and unavailable for trading, fewer coins exist for potential sellers to introduce downward price pressure.
This constrained selling capacity, paired with substantial buying interest from the Upbit launch, likely enabled SKR to maintain elevation despite challenging broader market conditions.
SKR functions as the native asset for Solana Mobile’s cryptocurrency-integrated smartphone platform. The initiative has cultivated a dedicated community of early staking participants since inception.
As of publication, SKR was exchanging hands around $0.027 with sustained elevated volume of $61.87 million across the 24-hour measurement period.
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