Upbit Listings 2025: Evaluating Euler (EUL) and Plume (PLUME) as Strategic Entry Points for Crypto Investors

The Upbit Listing Effect: A Double-Edged Sword for 2025 Investors

The September 17, 2025 listing of Euler (EUL) and Plume (PLUME) on Upbit reignited debates about the strategic value of exchange-driven momentum in the crypto market. According to a report by CoinGabbAR, the announcement triggered an 8.25% surge in EUL and an 8.33% jump in PLUME within hours, with EUL reaching an all-time high of $15.89Upbit Announcement: TOSHI, EUL, Plume Listing on Sept 17^[1]. However, as noted by CoinLineUp, the long-term impact of Upbit listings has diminished in 2025, with tokens like Treehouse (TREE) and Virtual (VIRTUAL) exhibiting sharp post-listing gains followed by rapid mean reversionUpbit Listing Effects Diminish Despite Initial Volatility Surges^[2]. This dynamic underscores a critical question for investors: Can EUL and PLUME sustain their initial momentum, or are they subject to the same “sell the news” behavior observed in prior listings?

Project Fundamentals: EUL and PLUME's Long-Term Viability

To assess the strategic potential of EUL and PLUME, it is essential to dissect their underlying protocols and ecosystems.

Euler (EUL): A DeFi Infrastructure Play
Euler Finance (EUL) has emerged as a cornerstone of decentralized lending and borrowing, with a Total Value Locked (TVL) exceeding $3 billion as of September 2025Euler Finance's Explosive Growth: $3B Deposits, EulerEarn Launch^[3]. The protocol's modular architecture, including the Euler Vault Kit (EVK) and Ethereum Vault Connector (EVC), enables permissionless market creation and cross-chain compatibilityEuler Labs: Multi-Network Deployments and Security Frameworks^[4]. Recent expansions to Layer 2 networks like Base have reduced gas fees and broadened accessibilityEuler Finance's Explosive Growth: $3B Deposits, EulerEarn Launch^[3]. Notably, Euler's rEUL incentive program has driven user retention by aligning long-term protocol sustainability with participant rewardsEuler (EUL): The Secret of an Impressive Rise^[5]. Despite a $195 million exploit in 2023, the team re-engineered its security protocols, allocating $4 million annually to audits and risk managementEuler Labs: Multi-Network Deployments and Security Frameworks^[4].

Plume (PLUME): Bridging Traditional and Digital Finance
Plume (PLUME) positions itself as a modular blockchain for tokenizing real-world assets (RWAs), with partnerships spanning UBS, Blackstone, and Hamilton LanePlume (PLUME): A Full-Stack Blockchain for Real-World Assets^[6]. Its Arc tokenization engine and Nexus data highway facilitate the integration of physical assets like real estate and commodities into DeFi ecosystemsPlume (PLUME): A Full-Stack Blockchain for Real-World Assets^[6]. The PLUME token, with a 26.5% circulating supply and 59% allocated to community/ecosystem growth, serves as a governance and utility tokenPlume (PLUME): A Full-Stack Blockchain for Real-World Assets^[6]. Institutional backing from Apollo Global and Binance's HODLer Airdrops program further validates its market potentialPlume (PLUME): A Full-Stack Blockchain for Real-World Assets^[6].

Exchange-Driven Momentum: Short-Term Gains vs. Long-Term Risks

The Upbit listing of EUL and PLUME followed a familiar pattern: immediate volatility, temporary liquidity surges, and regulatory safeguards. As stated by KanalCoin, Upbit imposed a 5-minute buy ban and limit-order exclusivity for the first two hours to mitigate flash crashesUPBIT Supports Euler and Plume Trading on BTC, USDT^[7]. While EUL's 8.25% post-announcement surge and PLUME's 8.33% jump were impressive, historical data from Messari reveals that such gains rarely persist. For instance, Treehouse (TREE) saw a 90% price spike post-listing in August 2025 but failed to maintain its peakUpbit: News, Markets, and New Listings | Messari^[8]. Similarly, Virtual (VIRTUAL) surged 28% after its September 2025 listing but reverted to pre-listing levels within weeksVIRTUAL Token Surges 28% to $2.65 as Listing on Upbit Throws It into Altcoin Focus^[9].

Strategic Considerations for 2025 Investors

For investors evaluating EUL and PLUME, the interplay of project fundamentals and exchange-driven momentum is key. EUL's robust TVL, multi-chain expansion, and security upgrades position it as a resilient DeFi infrastructure play, while PLUME's RWA focus and institutional partnerships align with broader trends in asset tokenization. However, the diminishing long-term impact of Upbit listings suggests that investors should prioritize fundamentals over speculative short-term gains.

1. EUL's Strengths: High TVL, innovative vault products (e.g., EulerEarn), and strategic Layer 2 deploymentsEuler Finance's Explosive Growth: $3B Deposits, EulerEarn Launch^[3].
2. PLUME's Strengths: Modular RWA infrastructure, institutional partnerships, and tokenomics favoring community growthPlume (PLUME): A Full-Stack Blockchain for Real-World Assets^[6].
3. Risks: Exchange-driven volatility, regulatory scrutiny of RWA tokenization, and competition from established DeFi protocolsStrategic Partnerships in Technology Innovation^[10].

Conclusion: A Calculated Approach to 2025 Listings

While the Upbit listing of EUL and PLUME generated immediate liquidity and visibility, their long-term success hinges on their ability to sustain user adoption and technological innovation. For 2025 investors, the lesson is clear: leverage exchange-driven momentum to enter promising projects but anchor decisions to fundamentals. As the crypto market matures, projects with strong use cases—like Euler's DeFi infrastructure and Plume's RWA tokenization—are more likely to outperform speculative altcoins.