The announcement by Bithumb to include these two digital currencies could be part of the reasons behind their price increase in the last 24 hours
Bithumb, a crypto exchange based in South Korea, has announced the addition of two new digital currencies to its platform. The first coin listed by Bithumb is TAIKO, an Ethereum project, and the second is BRETT, a meme coin built on the Base blockchain.
TAIKO and BRETT: New Additions to Bithumb’s Lineup
The blog post released by the exchange revealed that the newly added digital currencies will be available for trade in the Korean won market on July 9 at 6:00 PM local time, while depositing starts earlier at 03:00 PM.
TAIKO is a native token of Taiko Network, an Ethereum layer 2 project built to solve price problems on the ETH network while simultaneously maintaining its security. Once it gets listed on the Bithumb exchange, the token will be priced at 2,938 Korean won. Also, the number of deposit confirmations has been set to 30, which could be a catalyst for more traders who value quick transactions.
🚀 타이코(#TAIKO) 원화 마켓 추가 안내
New Listing : $TAIKO will be added to the KRW market today.For more details 👉 https://t.co/zRiM48GfDW#bithumb #Listing #KRWmarket #TAIKO @taikoxyz pic.twitter.com/cSg8Esho6x
— Bithumb (@BithumbOfficial) July 9, 2024
BRETT, on the other hand, will start at 149 won and require a 200-dollar deposit confirmation, which is quite higher than that of TAIKO.
Thus, listing both digital currencies on one of the largest crypto exchanges in South Korea is a win for the two coins as it will help improve their accessibility and visibility. It will also potentially increase the coins’ trading volumes in the Asian country, potentially making their prices spike.
🚀 브렛(#BRETT) 원화 마켓 추가 안내
New Listing : $BRETT will be added to the KRW market today.For more details 👉 https://t.co/zRiM48GfDW#bithumb #Listing #KRWmarket #Brett #Base @BasedBrett pic.twitter.com/mfa2Og0jGX
— Bithumb (@BithumbOfficial) July 9, 2024
Ethereum co-founder Vitalik Buterin’s support for TAIKO may be seen as a validation of the coin’s strength. This could increase investors’ trust and confidence in the token, and open the doors of other major exchange listings to it, in addition to the recent listing by Bybit.
Market Reaction and Potential Impact of the Listings
The price of BRETT has increased by over 6% in the last 24 hours, and it is currently trading at $0.1291. The trading volume has also increased by more than 37%, as it is presently at over $73 million.
Similarly, TAIKO has also been bullish in the last 24 hours. The coin has seen an increase of more than 12%, presently priced at $2.34, with a trading volume of over $71 million.
The announcement by Bithumb to include these two digital currencies could be part of the reasons behind their price increase in the last 24 hours, suggesting market reception of the news. Thus, should the coins become more popular and continue to get listed on major crypto exchanges, investors’ confidence could be further increased, leading to more demand for them.
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