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Bithumb, South Korea’s second-largest cryptocurrency exchange, has announced the listing of two promising altcoins, Lista DAO (LISTA) and Merlin Chain (MERL), sparking notable price rallies.
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Following the announcement, LISTA surged nearly 34% to $0.36, while MERL climbed over 20% to $0.168, both reaching six-month highs and demonstrating strong market interest.
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According to COINOTAG, Bithumb’s trading volume has surged by 256.2% in the past month, underscoring the exchange’s expanding influence in the crypto trading landscape.
Bithumb’s listing of LISTA and MERL fuels significant price gains and highlights the exchange’s growing market dominance amid surging trading volumes.
Bithumb’s Strategic Listing of LISTA and MERL Boosts Market Activity
Bithumb’s recent announcement to list Lista DAO (LISTA) and Merlin Chain (MERL) marks a strategic move to diversify its altcoin offerings and capitalize on growing investor interest. Both tokens will be traded against the Korean Won (KRW), with deposits and withdrawals enabled shortly after the announcement, ensuring seamless market entry for traders.
The exchange has emphasized compliance with regulatory standards, stating, “In compliance with the Travel Rule, deposits and withdrawals are only supported through virtual asset service providers that are supported by Bithumb.” This highlights Bithumb’s commitment to security and regulatory adherence while expanding its token listings.
LISTA trading commenced at 4:00 PM Korean Standard Time (KST) on July 24, with a reference price of 354 KRW, followed by MERL trading at 6:00 PM KST at 161 KRW. The immediate price surges reflect robust demand and positive market sentiment toward these projects.
Price Performance and Market Impact of LISTA and MERL
Following the listing, LISTA, the native token of an open-source lending and liquidity protocol, surged 33.97%, reaching $0.36—the highest price since January 2025. Meanwhile, MERL, the token underpinning Merlin Chain, a Bitcoin layer-2 network, rose 20.53% to $0.168, levels not seen since late January.
LISTA and MERL Price Performance. Source: TradingView
These price movements underscore the significant influence of South Korean exchanges on altcoin valuations. Bithumb, alongside peers like Upbit, has a track record of propelling altcoins such as Hyperlane (HYPER), Babylon (BABY), and Huma Finance (HUMA) to substantial gains through strategic listings.
South Korea’s Crypto Market Dynamics and Exchange Volume Surge
South Korea remains a powerhouse in the global crypto ecosystem, with approximately 27% of individuals aged 20 to 50 holding digital assets, and 70% expressing intentions to expand their portfolios this year, according to Ledger. This widespread adoption fuels demand and liquidity on local exchanges.
The combined digital asset holdings across South Korea’s top five exchanges—Upbit, Bithumb, Coinone, Korbit, and GOPAX—exceed 100 trillion Won (~$73 billion), reinforcing the country’s leadership in blockchain adoption.
Bithumb’s recent volume surge exemplifies this trend. CoinGecko data reveals a 256.2% increase in trading volume over the past month, rising from approximately $758 million to $2.7 billion. Similarly, Upbit’s volume soared by 388.24%, from $1.7 billion to $8.3 billion, highlighting intensified market activity and investor engagement.
Regulatory Compliance and Market Confidence
Bithumb’s adherence to regulatory frameworks, including the Travel Rule, enhances market confidence by ensuring secure and compliant trading environments. This regulatory rigor is critical in maintaining investor trust and supporting sustainable growth in South Korea’s crypto market.
By facilitating smooth deposit and withdrawal processes through approved virtual asset service providers, Bithumb mitigates risks associated with illicit activities, aligning with global standards and fostering a transparent trading ecosystem.
Conclusion
Bithumb’s listing of Lista DAO and Merlin Chain not only catalyzed significant price appreciation for both tokens but also highlighted the exchange’s expanding role in shaping altcoin market dynamics. Supported by robust trading volume growth and strong regulatory compliance, Bithumb and its South Korean counterparts continue to drive innovation and liquidity in the crypto sector. Investors and market participants should monitor these developments closely as South Korea’s crypto landscape evolves.
