17.07.2025 11:17
Caldera (ERA), a "Rollups-as-a-Service" platform empowering Web3 developers, experienced a significant price surge following its listing on Upbit, South Korea's leading cryptocurrency exchange. The announcement, closely following Caldera's inclusion in Binance's HODLer airdrops program, immediately propelled ERA's value upward by a remarkable 60%.
Upbit's listing, effective July 18th at 00:30 KST, will facilitate ERA trading against the Korean Won (KRW), Bitcoin (BTC), and USDT. However, the exchange implemented stringent security measures, mandating Travel Rule verification for all deposits made prior to CoinMarketCap's price registration or Upbit's trading launch, regardless of amount, exceeding even ₩1 million. This emphasis on security underscores Upbit's commitment to regulatory compliance and user protection. The exchange explicitly stated that deposits from unverified sources or those misrouted may face protracted return processes. Furthermore, Upbit only supports ERA deposits and withdrawals via the Ethereum network.
This price jump is not unprecedented; similar announcements have previously boosted other tokens listed on Upbit. For instance, ENA recently saw a 19% increase following a comparable announcement, mirroring the performance of HYPER and BABY just two weeks prior. The expectation of high demand within the influential South Korean cryptocurrency market likely fueled this latest surge in ERA's price. The robust Korean market's significant impact on overall token trading volume is well-documented.
Central to Caldera's functionality is the ERA token, which plays a vital role in the platform's ecosystem. ERA facilitates various activities, including transaction fees (gas fees), validator staking, and governance within the Caldera network. This strategic inclusion of ERA in multiple facets of the platform strengthens its utility and underscores its importance within the Caldera ecosystem. The news comes just one day after the successful integration of Caldera into Binance's HODLer airdrops initiative, adding to the positive momentum surrounding the project. The combined effect of these announcements significantly boosted market confidence in Caldera and its native token.
