South Korean crypto exchanges Upbit and Bithumb are opening up new markets! They recently listed HYPER and BABY, which kicked off some amazing price action. Market reaction Upbit, South Korea’s largest exchange by trading volume, has been adding new offerings. It has since added support for trading HYPER against the Korean Won (KRW) pair. Bithumb Bithumb, the country’s second-largest exchange, announced the listing of the HYPER/KRW spot trading pair.
Meanwhile, HYPER, the token native to the interoperability protocol Hyperlane, pumped over 100% on the listing announcements. Trading for HYPER/KRW commenced at 17:00 KST. Before the announcement, HYPER hovered at just $0.151. Immediately following the announcement, it shot up 93% to an all-time high of $0.348.
As of press time, HYPER was trading at $0.31, achieving a 102.59% increase. HYPER’s value earlier in the day was $0.052, which is a 10.69% increase. The altcoin blasted off as much as triple digits following its listing on the two largest South Korean exchanges.
In fact, BABY, the crypto token of the Babylon protocol itself, saw a massive 21% increase upon the listing announcement. The price increase later moderated.
Upbit has warned users to check network compatibility before depositing any digital asset.
"Please make sure to check the network before depositing any digital assets. Deposits/withdrawals through networks other than the indicated network will not be supported." - Upbit notice
HYPER and BABY have now been traded on Upbit and Bithumb. This case shows the power that exchange listings hold to greatly impact the price and exposure of smaller cryptocurrencies. South Korean exchanges have a reputation for making the digital asset market go crazy.
