Upbit and Bithumb Announce Listing of 2 New Crypto Tokens
South Korea’s leading crypto exchanges, Upbit and Bithumb, have unveiled the listing of two new altcoins today: Hyperlane (HYPER) and Babylon (BABY). Following the announcement, both altcoins experienced significant gains, with HYPER surging by over 100%. This move comes as Upbit initially introduced HYPER against BTC and USDT pairs in late May.
Market Expansion by Upbit and Bithumb
In an official statement, Upbit, the largest cryptocurrency exchange in South Korea, disclosed the listing of the BABY token. Trading for this token will be available against Bitcoin (BTC) and Tether (USDT) pairs, presenting users with more trading options. The trading for BABY will commence at 16:00 Korean Standard Time (KST). Furthermore, Upbit will also facilitate trading for HYPER against the Korean Won (KRW) pair, enabling local investors to participate in the altcoin market in their native currency. The HYPER/KRW trading pair will go live at 17:00 KST. These listings follow Upbit’s initial introduction of HYPER against BTC and USDT pairs in late May. The exchange emphasized the importance of verifying the network before depositing any digital assets to ensure support.
Bithumb, the second-largest exchange in South Korea, also confirmed the addition of the HYPER/KRW spot trading pair. Trading for this pair will start at 17:00 KST. The market response to these announcements was immediate, with HYPER, the token associated with the Hyperlane interoperability protocol, experiencing a significant surge. Prior to the news, HYPER was trading at around $0.151 but quickly jumped to $0.348, marking a remarkable 130% increase. As of the latest update, HYPER is trading at $0.31, maintaining a gain of 102.59%. The Babylon protocol’s BABY token also saw a sharp 21% increase post-listing announcement, trading at $0.052 at press time, reflecting a 10.69% gain.
Market Impact and Exchange Influence
The recent price surges underscore the growing influence of South Korean crypto exchanges on altcoin performance. This trend is not isolated and mirrors previous price hikes seen with tokens like Raydium (RAY), Huma Finance (HUMA), and Forta (FORT) following their listings on these platforms. Investors are urged to independently verify facts and seek professional advice before making any investment decisions based on this information.
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Source: BeInCrypto
