Bithumb, South Korea’s leading cryptocurrency exchange, has announced the inclusion of Raydium (RAY) and Ponke (PONKE) tokens for trading against the Korean won (KRW). This news prompted a surge in interest, with RAY prices rising by 10% and PONKE climbing 20% shortly after the announcement.
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1 What Tokens Have Been Listed?
2 How Did the Market React?
What Tokens Have Been Listed?
On November 19, Bithumb confirmed the addition of Raydium and Ponke to its trading platform. This strategic listing not only amplifies the reach of Solana-based projects but also encourages user engagement, as evidenced by the rapid deposit activity initiated within hours of the announcement. Formal trading is set to commence on Tuesday at 17:00 KST.
How Did the Market React?
Following the listing, Raydium’s price reached $5.90, reflecting a notable 10% increase. Throughout the day, its value fluctuated between $5.519 and $6.144, supported by a trading volume of $173 million and a market cap of $1.73 billion. Ponke also experienced a significant uptick, gaining 20% in value, with current trading at approximately $0.80.
Key takeaways from the recent listings include:
- Raydium and Ponke gained substantial traction post-listing.
- Market volatility was managed through temporary trading restrictions on Bithumb.
- Token visibility has enhanced due to listing on a prominent exchange.
The rapid price appreciation of these tokens demonstrates the critical role that exchange listings play in boosting market confidence and engagement. This trend highlights the potential for Raydium and Ponke to secure a stronger foothold within the cryptocurrency landscape.
