Bithumb, South Korea’s second-largest cryptocurrency change, introduced the itemizing of two new altcoins at this time.
The new supported tokens embody Lista DAO (LISTA) and Merlin Chain (MERL). The itemizing announcement triggered double-digit value will increase for each crypto property, pushing them to 6-month highs.
Bithumb Announces LISTA and MERL Listing
According to Bithumb’s official announcement, the tokens will probably be out there for buying and selling towards the Korean Won (KRW). Deposits and withdrawals will probably be out there inside 3 hours of the announcement.
“In compliance with the Travel Rule, deposits and withdrawals are only supported through virtual asset service providers that are supported by Bithumb,” the announcement learn.
The change added that LISTA buying and selling is scheduled to start at 4:00 PM Korean Standard Time (KST) on July 24. The reference value will probably be 354 KRW.
After this, Bithumb will launch MERL buying and selling at 6:00 PM KST. The reference value for the altcoin is 161 KRW.
Following the information, the costs reacted sharply. LISTA, the native token of an open-source lending and liquidity protocol, Lista DAO, surged 33.97%. The value reached $0.36, marking LISTA’s highest stage since January 2025.
Similarly, MERL, the native token of Merlin Chain, a Bitcoin layer-2 network, skilled a 20.53% enhance to $0.168, a stage final seen in late January.
These value actions spotlight the numerous affect of South Korean exchanges on altcoin markets. Upbit and Bithumb have previously propelled tokens like Hyperlane (HYPER), Babylon (BABY), Huma Finance (HUMA), and more to vital positive aspects via strategic listings.
Notably, the exchanges’ robust presence in one of many largest cryptocurrency markets may very well be a key driver behind their affect. According to Ledger, in South Korea, 27% of the people aged 20 to 50 are at present holding digital property, with 70% expressing an curiosity in increasing their crypto portfolios this yr.Â
The mixed worth of digital property held throughout the nation’s prime 5 exchanges, Upbit, Bithumb, Coinone, Korbit, and GOPAX, has exceeded 100 trillion Won (~$73 billion), reinforcing South Korea’s place as a world frontrunner in blockchain adoption.
This dominance inside South Korea has also benefited the exchanges. Bithumb, for instance, has seen its buying and selling quantity enhance threefold over the previous month.Â
CoinGecko data revealed that the quantity has risen from around $758 million to $2.7 billion, marking a formidable 256.2% surge.Â
Similarly, Upbit has experienced a exceptional spike in quantity. It has grown from $1.7 billion to $8.3 billion, reflecting a 388.24% enhance, highlighting rising dominance.Â
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