Upbit and Bithumb Listings: Why They Cause Coin Prices and Trading Volume to Explode

▲ Source: Tiger Research X

The listing on the Korean Won market in April once again acted as a ‘liquidity explosion’ trigger, leading to a rapid expansion of new coin trading, primarily on Upbit and Bithumb.

According to data released by Tiger Research, Upbit listed 10 cryptocurrencies and Bithumb listed 7 during April, with a total of 12 new additions to the Korean Won market. The listed assets were evenly distributed across major narratives, including DeFi, privacy, artificial intelligence, Layer 1, Layer 2, and interoperability.

Upbit listed Canton (CC), Zama (ZAMA), Soon (SOON), Pieverse (PIEVERSE), USD.AI (CHIP), Spark (SPK), Onyxcoin (XCN), Pearl (PRL), Fluent (BLEND), and Megaether (MEGA). Bithumb also showed a similar trend by adding Venice Token (VVV), Zama, Based (BASED), USD.AI, Pearl, Fluent, and Megaether.

Market attention, in particular, focused on cases of surging trading volume immediately after listing. Pearl (PRL) was cited as a prime example, with its trading volume skyrocketing by 5,500% on the day of its listing. The trading volume, which was only $6.3 million the day before listing, surged to $352.84 million on the listing day.

Tiger Research assessed that Korean Won market listings act as a ‘liquidity ignition device’ beyond simple trading support. In fact, domestic exchange listings are analyzed to be events that simultaneously boost trading volume and interest from the perspective of global projects.

The industry believes that this trend is likely to continue in May. Tiger Research stated, “Market patterns are repeating,” and that expectations for the next batch of listing candidates are already forming.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*