The simultaneous listing of AZTEC on a major Korean exchange is causing a huge buzz.

With the addition of a won-denominated pair, it shot up nearly 82% at once, reaching around $0.035, but now it's been adjusted down to $0.02.
I think the surge back then was caused by Korean traders who understand what a gap-up is flooding in all at once.

The Korean market is really unique, and just adding a pair in the local currency can dramatically change the price of small tokens.
Instead of buying through USDT, just seeing the option to buy directly in won on the screen attracts a completely different level of attention from individual investors.
In fact, Korea is always among the top three countries in crypto trading volume per capita, and major Korean exchanges are on par with overseas giants in terms of active spot trading.

A common pattern during these listing events is arbitrageurs exploiting price differences between the domestic and international markets.
A gap-up, simply put, is a phenomenon where the price suddenly breaks out upward, but the subsequent correction is also rapid.
In reality, cycles of premium expansion and contraction happen repeatedly.
AZTEC seems to be following that typical pattern this time as well.

Aztec is a privacy-focused Layer 2 on Ethereum, a project that enables encrypted transactions using zero-knowledge proofs.
It's interesting because it has a technical story behind it, not just short-term price movements.
The temporary surge caused by the listing in Korea has settled down, but the value of the project itself is a different matter.