Upbit’s announcement feed stamps its KAIA listing notice at 17:06:46 Seoul time on Friday, October 9. That is 08:06:46 UTC. Binance’s one-second spot candles for KAIA/USDT show no price change through 08:06:46, then a trade at $0.0490 in the very next second, with $317,529 of volume in that single second.

The KAIA price had closed Thursday at $0.0370 on Binance spot. It closed Friday at $0.0605, a gain of 63.5%, with a high of $0.0680 along the way. At 07:00 UTC on Saturday it sat near $0.058, and Coinglass put market cap at $368.35 million.

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Upbit customer center notice in Korean titled KAIA new trading support for KRW, BTC and USDT markets, showing a registered time of 2026.10.09 17:06 and an update time of 18:23
Upbit’s notice as it appeared Saturday. The header gives 17:06 as the posting time and 18:23 as the last edit.

One Second After the Notice, KAIA Was Already at $0.0490

The one-second candles are the cleanest read. The last trades before the notice sat flat at $0.0378. In the second stamped 08:06:47 the spot high was $0.0490, and over the following 12 seconds the KAIA price moved between $0.0404 and $0.0452. Binance’s one-minute futures candle for 08:06 traded $2.77 million, against $0.69 million in spot for the same minute. In the four minutes before it, the perpetual never cleared $1,600 a minute.

Hourly volume carries the same signal. The 08:00 UTC hour on spot did $7.88 million, after hours that had run between $9,000 and $31,000. Friday’s full daily candle carried $32.2 million, where Monday through Thursday ran between $0.86 million and $1.22 million.

TradingView 30-minute chart of KAIA/USDT on Binance with a flat range near 0.037 and a vertical rise to 0.068 on October 9, then a pullback to 0.051 and a second push to 0.064, with RSI below
TradingView, KAIA/USDT in 30-minute candles on Binance, captured Saturday 07:55 UTC. The vertical bar is Friday 08:06.

What Upbit’s Notice Said About the Opening

The notice lists KRW, BTC and USDT markets for KAIA, with trading to open at 18:30 Seoul time, or 09:30 UTC. Deposits and withdrawals were to open within an hour of the post. Upbit already supported KAIA on its Indonesia and Thailand BTC markets, so this was an addition to the Korean exchange, not a first listing anywhere.

Upbit set its own limits for the start. Buy orders were blocked for about five minutes after trading began, sell orders at 10% or more under the prior close were blocked for the same stretch, and for about two hours only limit orders were allowed. The reference table gave 50.39 won as the latest price at 16:35 Seoul time, against a prior close of 51.82 won.

Upbit’s own ticker endpoint shows a high of 92.3 won on October 9, 83% above that reference. At 16:28 Seoul time on Saturday the pair stood at 78.6 won, with 213.8 billion won traded over 24 hours. Upbit’s October 6 addition of NMR, covered in our NMR report, also produced a one-minute jump.

The Top Came After Korean Trading Opened

The first jump arrived about 83 minutes before Upbit trading opened. Trading began at 09:30 UTC. The 09:00 hour closed at $0.0604, and the 10:00 UTC hour set the day’s high of $0.0680 before closing at $0.0594.

The KAIA price pulled back to $0.0510 at 16:00 UTC on Friday, 25% under that high. A second push began near 22:00 UTC and reached $0.0641 at 00:00 UTC on Saturday, short of the first peak.

Funding Paid Long Holders 6.2% in a Day

The perpetual contract changed character on Friday. Binance’s funding info lists KAIAUSDT on a one-hour interval with a floor of -2%. Through 08:00 UTC, the funding history shows the usual +0.005% prints. At 12:00 UTC the rate hit the floor at -2.00%, then ran between -0.12% and -0.53% an hour through 07:00 UTC on Saturday.

Those 20 hourly prints add up to -6.23%. Negative funding means short holders pay long holders. Binance’s open interest series stood at $2.27 million at 08:00 UTC on Friday and $12.5 million at 11:00 UTC. Coinglass shows $40.62 million of open interest across venues, $1.16 billion of 24-hour futures volume and $199.04 million of spot, so futures traded 5.8 times as much as spot. Binance’s MINA contract went negative the same way during its slide, as our MINA report showed.

Coinglass Kaia header showing price 0.05568, 24 hour change plus 46.72 percent, futures volume 1.16 billion dollars, spot volume 199.04 million, market cap 368.35 million and open interest 40.62 million
Coinglass header for KAIA on Saturday: futures volume $1.16B, spot volume $199.04M, open interest $40.62M.

KAIA Price Levels After the Pullback

For the KAIA price, daily RSI(14) read 85.3 on Friday and 79.2 at the Saturday print, using 200 Binance daily closes. The 20-day average is $0.0381, the 50-day $0.0333 and the 100-day $0.0315, which leaves the KAIA price about 52% above its 20-day line. Bitcoin sits near $82,700, above its own 100-day average of $72,700.

Measured from the $0.0378 pre-notice price to the $0.0680 high, the 50% line is $0.0529 and the 61.8% line is $0.0493. Friday’s low of $0.0510 landed between them, and the second push peaked at $0.0641.

Binance spot one-hour candles for KAIA/USDT with solid horizontal lines at 0.0680, 0.0641, 0.0529, 0.0493 and 0.0378
Built from Binance hourly candles, UTC. Lines mark the two highs, the 50% and 61.8% retracements, and the pre-notice price.

Up case: a 4-hour close above $0.0641 points to $0.0680. A 4-hour close back under $0.0641 cancels it.

Down case: a 4-hour close under $0.0510 points to $0.0493 and then $0.0415, the October 6 daily high. A 4-hour close back above $0.0510 cancels it.