BounceBit and SKALE Skyrocketing after Bithumb Announces Listing

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As a seasoned researcher with years of experience delving into the fascinating world of digital assets, I find myself constantly intrigued by the dynamic nature of the crypto market. The recent listing of BounceBit (BB) and SKALE on Bithumb, two prominent platforms in South Korea, has piqued my interest due to their impressive performance amid a stagnant market.

Bithumb, one of South Korea’s top digital asset trading platforms (ranked second), has revealed that it will be listing trading pairs for the Korean won with projects like BounceBit (BB) and SKALE (SKL). The announcement led to substantial increases in the value of these cryptocurrencies over the past 24 hours, even as the market remained relatively unchanged. Here are their current stats:

As a researcher, I’m excited to share that, according to the recent announcement, Bithumb will be adding Korean Won trading pairs for BB and SKL on November 27, approximately at 8:00 PM local time. This move is expected to boost investor accessibility to these altcoins, as evident from the significant increase in their trading volume over the past 24 hours. It’s worth mentioning that token holders can transfer their assets, but only through the BounceBit and SKALE blockchain networks.

Of particular interest, these altcoins’ buy orders can only be placed five minutes after they start trading. Similarly, sell orders are restricted to a 5% limit during the initial trading period. It’s worth noting that Bithumb has been actively expanding its offerings, particularly with altcoin exposure, as evidenced by its recent listings such as Ethereum Layer 2 protocol Taiko (TAIKO), priced at $1.81, and the popular Meme Coin Brett ($0.16). Moreover, Bithumb also listed Internet Computer (ICP) earlier this year in June. Here’s a quick look at their respective details:

Additionally, this year, Upbit, a rival to Bithumb, has shifted its attention towards altcoins, recently listing Drift, Safe, and Uniswap. Here are their details:

BounceBit and SKALE Price Surge

In the last day, both BounceBit (BB) and SKALE have seen significant increases, with BB experiencing a 19.04% spike and SKALE climbing by 9.70%. Currently, their market caps are $183.96 million for BB and $349.58 million for SKALE. Notably, the trading volume for SKL increased by 55.17% to reach $90.15 million in the last 24 hours, while BB’s trading volume soared by 124%, amounting to $161.79 million.

Currently, SKL is being traded at $0.06318, marking a 33.15% increase over the past week and a significant 78.64% rise in the last month. Remarkably, it has experienced a 40.60% surge from November 2023. However, it’s important to note that despite this growth, it remains 94.85% below its peak all-time high of $1.22, which was reached in March 2021.

Conversely, BB is currently valued at $0.3872, experiencing a 31.66% increase over the past week and a 39.33% surge in the last month. Additionally, its value has climbed by 33.39% since November 2023.

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2024-11-27 15:27