Somnia (SOMI) Soars Over 10% on Binance Airdrop Announcement and Upbit Listing

Somnia (SOMI), the native token of the Somnia blockchain, has surged over 10% in recent trading. The rise stemmed from an earlier announcement of a Binance HODLer Airdrop, followed by its listing on Upbit, a major cryptocurrency exchange in South Korea.

Somnia is an EVM-compatible layer-1 blockchain designed for high-throughput, real-time applications such as gaming and metaverses. The Somnia blockchain supports various decentralized applications (dApps) across finance, AI, and gaming. It utilizes the Delegated Proof of Stake (DPoS) consensus mechanism. SOMI is its native utility token used for fees, staking, and governance.

The layer-1 network’s market attention resulted in a positive market reaction, according to data from CoinGecko.

Binance HODLer Airdrops Ignite Surge

The catalyst for the price surge can be traced back to the Binance HODLer Airdrops’ feature, which took place on September 1, 2025. During the event, Binance distributed 30 million SOMI tokens to holders of BNB who had actively staked their tokens over a designated period. The initiative not only rewarded loyal users but also stimulated broader participation in the ecosystem.

Additionally, 20 million SOMI tokens were allocated to Binance Alpha participants, with a substantial portion of these tokens scheduled to vest over the next 60 days. This strategic airdrop has successfully engaged existing users while simultaneously enhancing market liquidity.

Following this, spot trading for SOMI officially commenced on September 2, 2025.

Upbit Listing Drives Gains

In addition to the Binance Airdrop, Upbit listed SOMI on October 1, 2025, allowing trading in KRW, BTC, and USDT. The announcement generated strong demand from Korean retail investors, resulting in a price surge of over 10%. As South Korea’s largest crypto exchange, Upbit controls over 80% of the market, making it easier for users to deposit onto the Somnia network and verify accounts.

The trading volume surged to $290 million, indicating high interest in gaming tokens. Historically, new listings on Upbit often see price increases of 15% to 30% due to local demand. SOMI’s market cap is now over $135 million, ranking it 427 on Coingecko. There are 160.2 million SOMI tokens in circulation out of a total supply of 1 billion.

SOMI is currently trading between $0.81 and $0.95, driven by optimism regarding its gaming and metaverse applications. However, upcoming vesting unlocks in November may pressure SOMI’s price if user adoption doesn’t grow.

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