Bithumb Boosts Altcoins: LISTA Surges 34%, MERL Up 20%
Bithumb – South Korea’s major cryptocurrency exchange, Bithumb, announced today the listing of two promising altcoins: Lista DAO (LISTA) and Merlin Chain (MERL). Both tokens will be available for trading against the Korean Won (KRW), with deposits and withdrawals enabled within three hours of the announcement.
According to Bithumb, LISTA trading began at 4:00 PM KST on July 24, with a reference price set at 354 KRW, followed by MERL trading at 6:00 PM KST, referencing a price of 161 KRW. In compliance with the Travel Rule, only virtual asset service providers supported by Bithumb can process deposits and withdrawals.
Altcoins Hit 6-Month Highs After Listing
The listing caused an immediate price reaction, with LISTA surging nearly 34% to $0.36, reaching its highest level since January 2025. MERL also jumped over 20% to $0.168, a price last seen in late January. These impressive gains underscore the influential power of South Korean exchanges on the global altcoin market.
Bithumb, along with other South Korean exchanges like Upbit, has a strong track record of boosting altcoin prices following strategic listings. Previous tokens such as Hyperlane (HYPER), Babylon (BABY), and Huma Finance (HUMA) have all enjoyed significant rallies, demonstrating the market’s responsiveness to new offerings.
South Korea’s Crypto Market Remains a Global Powerhouse
South Korea continues to be a dominant force in the cryptocurrency world. Recent data from Ledger reveals that 27% of South Koreans aged 20 to 50 hold digital assets, with 70% eager to expand their crypto portfolios in 2025. The combined assets on the country’s top five exchanges, including Bithumb and Upbit, now exceed 100 trillion Won (~$73 billion).
This robust ecosystem has fueled remarkable growth in exchange trading volumes. Over the past month, Bithumb’s volume tripled, soaring from $758 million to $2.7 billion, a 256% increase. Similarly, Upbit’s volume skyrocketed by 388%, from $1.7 billion to $8.3 billion, cementing South Korea’s influence on global crypto trading.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
[…] its simplest terms, Merlin Chain is a native Layer 2 solution built directly upon the Bitcoin […]