- NEAR and AIOZ, two prominent cryptocurrencies, have been added to the Korean crypto exchange, Bithumb.
- The addition of these cryptocurrencies to the KRW market has led to a significant increase in their value.
- NEAR’s price spiked by 5.6% following the announcement, while AIOZ also saw a substantial increase.
NEAR and AIOZ, two significant cryptocurrencies, have been added to the Korean crypto exchange, Bithumb, leading to a surge in their value. This article provides an in-depth look at the impact of this development on the crypto market.
NEAR, AIOZ now available for KRW traders at Bithumb
Bithumb, the second-largest cryptocurrency exchange in the Korean market, has added two new cryptocurrencies to its KRW markets. NEAR, one of the oldest mainstream altcoins, and AIOZ, a mid-cap AI cryptocurrency, are now available for trading in NEAR/KRW and AIOZ/KRW pairs. Both deposits and withdrawals in these new pairs were activated on May 7, 2024. To protect traders from a volatility spike, the price dynamics of the new pairs will be limited in the first five minutes of trading.
Impact on NEAR and AIOZ Value
Following the listing announcement, both assets experienced a significant increase in value. NEAR’s price spiked from $7.3 to over $7.75, marking a 5.6% increase. AIOZ demonstrated an even more impressive upsurge, jumping from $0.73 to $0.9 and revisiting monthly highs. Today, its capitalization is on the brink of joining the $1 billion club, placing AIOZ in the top 10 AI cryptos by market capitalization.
Bithumb’s Influence on the Crypto Market
As one of the largest cryptocurrency exchanges in the Korean market, Bithumb’s addition of new cryptocurrencies often leads to a significant impact on their value. The platform supports fiat operations with Korean Won and is ranked in the top 25 CEXes by trading volume, with $500 million processed in 24 hours. The addition of NEAR and AIOZ to its KRW market is expected to further increase its influence in the crypto market.
Conclusion
The addition of NEAR and AIOZ to Bithumb’s KRW market represents a significant development in the crypto market. The immediate increase in the value of these cryptocurrencies following the announcement demonstrates the impact of such listings on crypto value. As Bithumb continues to add new cryptocurrencies to its platform, it is likely to further cement its influence in the crypto market.
