Bithumb's New Listings: A Market Game Changer?

Bithumb's Strategic Expansion with BRETT and TAIKO Listings

On July 9, Bithumb, the second-largest crypto exchange in South Korea announced the launch of the Brett (BRETT) and Taiko (TAIKO) Korean won markets. The time scheduled for the launch was at 18:00 local time on July 9. 

Bithumb announced listing the tokens in Korean won markets through X (formerly Twitter) and a blog post. 

Source: X

The exchange will begin accepting deposits by 03:00 PM and trading/withdrawal by 06:00 PM. TAIKO is a zkEVM Ethereum layer 2 network supported by Vitalik Buterin whereas Brett is a memecoin deployed on the Base chain.

According to CoinGecko, Bithumb holds a trust score of 7/10 and offers 295 coins and 305 trading pairs with USDT/KRW as the most active pair generating $74,159,213.00 in 24-hour volume. Moreover, the exchange’s 24-hour volume was reported at $676,231,935.33, a change of 58.51% in the last 24 hours and 6.32 Million monthly visits.   

Furthermore, listing Brett and Taiko tokens on the exchange would surge Bithumb’s value and performance in the cryptocurrency market. 

Brett Trading Support Details 

BRETT is a memecoin streaming on the Base blockchain, inspired by a character in the "Boy's Club" comic. Currently, the base network will support the token at a base price of 140 won. The number of deposit confirmations for the BRETT coin is 200.  

After a decline from $0.1617 on July 2 to $0.1096 on July 8, over a 26.00% drop in the past 7 days, the memecoin recorded a sudden rise just after the listing news.

Source: CoinMarketCap

At press time, the BRETT coin was trading at $0.1232, a change of 8.55% in the last 24 hours with $1.22 Billion in market cap and $55.42 Million in 24-hour volume. 

Taiko’s Current Performance 

TAIKO, an Ethereum layer 2 project based on technologies such as Based rollup, Contestable rollup, and Booster rollup, will be supported by the Taiko network at a base price of 2,938 won. The number of deposit confirmations for the TAIKO coin is 30. 

The announcement of token listing, surged TAIKO's price by 10.15% in a day, trading at $2.28, at the time of writing. The token holds a market cap of $150,112,632 and $55,189,470 in 24-hour volume. Recently, the token was listed on Upbit, South Korea’s most trusted cryptocurrency exchange.    

Conclusion

Bithumb's announcement of listing Brett (BRETT) and Taiko (TAIKO) tokens in Korean won markets has positively impacted their prices. BRETT, a memecoin, and TAIKO, a zkEVM Ethereum layer 2 network, have both seen significant price increases following the news. The platform's robust trading volume and high trust score suggest that the addition of these tokens could enhance the exchange's market performance.