Bithumb Listings Drive LISTA and MERL to 6-Month Highs

Major Korean Exchange Announces New Altcoin Listings

Bithumb, South Korea's second-largest cryptocurrency exchange, has announced the listing of two promising altcoins that immediately captured market attention. The exchange revealed support for Lista DAO (LISTA) and Merlin Chain (MERL), triggering significant price movements that pushed both tokens to their highest levels in six months.

LISTA and MERL Trading Details on Bithumb

The Korean exchange confirmed that both tokens will be available for trading against the Korean Won (KRW). According to the official announcement, deposits and withdrawals became available within three hours of the initial listing news.

LISTA trading commenced at 4:00 PM Korean Standard Time on July 24, with a reference price set at 354 KRW. Following this, MERL trading began at 6:00 PM KST with a reference price of 161 KRW.

The exchange emphasized compliance with the Travel Rule, noting that deposits and withdrawals are only supported through virtual asset service providers approved by Bithumb.

Explosive Price Movements Follow Listing News

The market response to these listings was immediate and dramatic. LISTA, the native token of the open-source lending and liquidity protocol Lista DAO, experienced a remarkable 33.97% surge. The token reached $0.36, marking its highest valuation since January 2025.

MERL demonstrated equally impressive performance, with the native token of Merlin Chain, a Bitcoin layer-2 network, climbing 20.53% to reach $0.168. This price level represents the token's best performance since late January.

Korean Exchanges Shape Altcoin Market Dynamics

These substantial price increases underscore the powerful influence South Korean cryptocurrency exchanges wield over altcoin markets. Both Upbit and Bithumb have consistently demonstrated their ability to drive significant price movements through strategic token listings.

Recent examples include tokens like Hyperlane (HYPER), Babylon (BABY), and Huma Finance (HUMA), all of which experienced notable gains following listings on major Korean exchanges.

South Korea's Cryptocurrency Market Dominance

The impact of these exchanges stems from South Korea's position as one of the world's most active cryptocurrency markets. Current statistics reveal that 27% of individuals aged 20 to 50 in South Korea hold digital assets, with 70% expressing interest in expanding their crypto portfolios this year.

The combined value of digital assets held across the country's top five exchanges - Upbit, Bithumb, Coinone, Korbit, and GOPAX - has surpassed 100 trillion Won, approximately $73 billion. This figure reinforces South Korea's status as a global leader in blockchain adoption.

Trading Volume Surge Reflects Growing Influence

Bithumb has experienced exceptional growth in trading activity over the past month. Trading volume has increased threefold, rising from approximately $758 million to $2.7 billion, representing an impressive 256.2% surge.

Similarly, Upbit has witnessed remarkable volume growth, expanding from $1.7 billion to $8.3 billion. This represents a 388.24% increase, highlighting the growing dominance of South Korean exchanges in the global cryptocurrency landscape.

Market Impact of Strategic Listings

The success of these listings demonstrates the strategic importance of gaining access to South Korean cryptocurrency exchanges. For altcoin projects, securing listings on platforms like Bithumb and Upbit can provide immediate access to a highly engaged and financially capable user base.

The consistent pattern of price appreciation following Korean exchange listings has created a phenomenon where projects actively seek these partnerships as a catalyst for growth and market recognition.

Future Implications for Altcoin Markets

The continued influence of South Korean exchanges on altcoin valuations suggests that these platforms will remain crucial gatekeepers in the cryptocurrency ecosystem. Their ability to generate substantial price movements through listing announcements makes them key players in determining which projects gain mainstream adoption.

As South Korea's cryptocurrency market continues to mature and expand, the impact of exchanges like Bithumb and Upbit on global altcoin markets is likely to grow even stronger, making their listing decisions increasingly significant for cryptocurrency projects worldwide.

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