As an experienced analyst, I believe that Bithumb’s decision to list TAIKO and BRETT is a significant development for both projects. The addition of these coins to one of the largest crypto exchanges in South Korea will undoubtedly improve their accessibility and visibility, potentially leading to increased trading volumes and higher prices.
Bithumb, a South Korean cryptocurrency exchange, has made two new digital currencies available for trading on its platform. The first is TAIKO, an Ethereum-based project, while the second is BRETT, a meme coin that runs on the Base blockchain.
TAIKO and BRETT: New Additions to Bithumbโs Lineup
In the blog announcement from the digital currency exchange, it was disclosed that two new cryptocurrencies would become tradeable against the Korean won starting July 9 at 6:00 PM local time. The process of depositing these currencies, however, will commence earlier on the same day at 3:00 PM.
The Taiko Network, an Ethereum layer 2 project aimed at addressing pricing issues on the ETH network while ensuring security, introduces TAIKO as its native token. Once listed on Bithumb exchange, this token will be valued at approximately 2,938 Korean won. Additionally, a deposit confirmation requirement of thirty confirmations has been established, potentially attracting traders preferring swift transactions.
๐ ํ์ด์ฝ(#TAIKO) ์ํ ๋ง์ผ ์ถ๊ฐ ์๋ดNew Listing : $TAIKO will be added to the KRW market today.
For more details ๐ #bithumb #Listing #KRWmarket #TAIKO @taikoxyz
โ Bithumb (@BithumbOfficial) July 9, 2024
Instead of “BRETT, on the other hand,” you could say “In contrast, BRETT” or “However, BRETT has a different requirement.” As for paraphrasing the rest of the sentence, how about “BRETT begins with a balance of 149 dollars but demands a confirmation deposit of 200 dollars, which is more than Taiko’s demand.”
As a researcher studying the cryptocurrency market, I would express this idea as follows: By securing listings on one of South Korea’s largest crypto exchanges, both digital currencies stand to benefit significantly. The increased accessibility and visibility gained through these listings can lead to higher trading volumes in Asia, potentially causing price spikes for the coins.
๐ ๋ธ๋ (#BRETT) ์ํ ๋ง์ผ ์ถ๊ฐ ์๋ดNew Listing : $BRETT will be added to the KRW market today.
For more details ๐ #bithumb #Listing #KRWmarket #Brett #Base @BasedBrett
โ Bithumb (@BithumbOfficial) July 9, 2024
Vitalik Buterin, a co-founder of Ethereum, endorsing TAIKO, implies its robustness. Such endorsement might bolster investors’ faith and certainty in the token, potentially attracting more exchange listings, including prominent ones beyond Bybit’s recent listing.
Market Reaction and Potential Impact of the Listings
In the past 24 hours, the value of BRETT has risen by more than 6 percent, reaching a current price of $0.1291. Additionally, there has been a significant surge in trading activity, with over $73 million worth of BRETT being exchanged, representing an increase of over 37% in volume.
As an analyst, I’ve noticed that TAIKO has exhibited a bullish trend within the past 24 hours. The cryptocurrency has experienced a significant surge of more than 12%, currently valued at around $2.34. Additionally, its trading volume exceeds $71 million.
The disclosure by Bithumb that it would support these two digital currencies might have contributed to their recent price surge over the past 24 hours, reflecting the positive market response to this news. If these coins gain wider popularity and continue to be added to prominent crypto exchanges, investors’ trust in them could grow even more, potentially fueling greater demand.
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2024-07-09 14:36