Bithumb, one of South Korea’s largest cryptocurrency exchanges, announced that it has listed Raydium (RAY) and Ponke (PONKE) tokens with KRW trading pairs. Following this announcement, RAY gained 10% and PONKE gained 20%. Both tokens attracted intense interest from investors.
Raydium and Ponke Listed on Bithumb
Bithumb announced that it added Raydium and Ponke tokens to its platform on November 19. The listing allowed Solana-based projects to reach a wider audience of investors. Users initiated deposits for RAY and PONKE within three hours of the announcement. Trade support will go into effect exactly at 17:00 KST on Tuesday.
The exchange has introduced temporary restrictions to ensure transaction security. Only sell orders were allowed for the first five minutes. In this process, sales prices were limited to a range of -10% to +100% of the base price. Later, automatic orders were activated to ensure that the tokens entered the market in a controlled manner. These steps were critical to prevent speculative fluctuations in token prices.
Market Performance of Raydium and Ponke
Raydium gained 10% after its listing on Bithumb, reaching $5.90. The price of the token has fluctuated between $5,519 and $6,144 in the last 24 hours. While Raydium’s transaction volume was recorded as $173 million, its market value reached $1.73 billion. This performance also revealed the increasing visibility of projects in the Solana ecosystem.
The Ponke token similarly gained 20% in value following the listing. Currently trading at $0.80, the token fluctuated between $0.68 and $0.84 in 24 hours. Ponke’s transaction volume was announced as $115 million and its market value was announced as $456 million. These values revealed the positive impact of listing on Bithumb on investors.
Listings on major cryptocurrency exchanges contribute greatly to the increase in price and visibility of tokens. The 80% gain in value of the BAN token listed on Binance Futures was a concrete example of this effect. The success of Raydium and Ponke shows that projects in the Solana ecosystem will attract more attention on a global scale.
Investors believe that the support of major exchanges plays a decisive role in the future of crypto assets. These listings have the potential to create a stronger investor base for Raydium and Ponke.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
