Raydium, a Solana-based AMM protocol, rose 10% to $5.90, with a 24-hour trading volume of $173 million and a market cap over $1.73 billion.
As a result of their addition to Bithumb, which is one of the most prominent cryptocurrency exchanges in South Korea, the prices of Raydium and Ponke experienced huge increases.
Solana owns and operates Raydium, which serves as an automated market maker (AMM) protocol and liquidity provider, and its price increased by ten percent following the IPO.
On the Solana network, the value of the Ponke meme coin increased by twenty percent. With the addition of these tokens to the South Korean trading platform, the cryptocurrency exchange is demonstrating its commitment to broadening the range of trading alternatives available to its customers.
Both assets had a surge in interest from traders as a direct result of the listing, which started the frenzy off right away. As a result of their addition to Bithumb, which is one of the most prominent cryptocurrency exchanges in South Korea, the prices of Raydium and Ponke experienced huge increases.
Solana owns and operates Raydium, which serves as an automated market maker (AMM) protocol and liquidity provider, and its price increased by ten percent following the IPO. On the Solana network, the value of the Ponke meme coin increased by twenty percent.
With the addition of these tokens to the South Korean trading platform, the cryptocurrency exchange is demonstrating its commitment to broadening the range of trading alternatives available to its customers.
Bithumb Adds Raydium and Ponke in KRW Pairs
Both assets had a surge in interest from traders as a direct result of the listing, which started the frenzy off right away. On November 19, Bithumb officially added Ponke (PONKE) and Raydium (RAY) to its KRW pairs.
Following the launch of the tokens on Bitcoin, there was a significant amount of interest from traders concerning them, which highlighted the initial excitement in the market. Trading support for RAY and PONKE on the Solana network enables users to make deposits and withdrawals within three hours of the introduction of the support for these cryptocurrencies.
On Tuesday, at five o’clock in the afternoon Korean Standard Time (KST), full trading for both tokens will commence, allowing users to access the new pairs as trading officially begins. Bithumb has implemented particular transaction limits in order to guarantee the safety of trading.
Bithumb halts purchasing orders for the first five minutes and restricts selling orders to a range between -10% and +100% of the base price. Following the completion of the initial transaction, automatic orders will become active, enabling a controlled entry for these tokens into the KRW market at that time.
Price Surge and Market Context for RAY and PONKE
Following the listing of Raydium on Bithumb, the price of the cryptocurrency has increased by 10%, and it is presently trading at $5.90. RAY’s price has fluctuated from a low of $5.519 to a high of $6.144 over the course of the previous twenty-four hours.
This Solana-based AMM protocol has seen a spike in interest, as evidenced by the fact that its trading volume hit $173 million and its market cap surpassed $1.73 billion.Ponke, also available on Bithumb, has seen a twenty percent price increase and is currently trading at eight dollars.
Over the course of twenty-four hours, the token’s price fluctuated between $0.68 and $0.84, and its trading volume reached $115 million. The Solana-based meme coin, currently valued at $456 million, is experiencing a growing demand.
Listings on large exchanges typically affect the price of cryptocurrencies by expanding access and exposure to the market. The price of BAN increased by eighty percent once it was listed on Binance Futures. The significance of the impact that exchange support has on cryptocurrency assets is brought to light by such listings.
