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Raydium Price Soars 10% and Ponke Jumps 20% On Major Listing
Raydium and Ponke experienced significant price jumps as they were added to Bithumb, one of the largest South Korean crypto exchanges. Raydium, a Solana-based automated market maker (AMM) protocol and liquidity provider, saw its price rise by 10% following the listing. Ponke a meme coin on the Solana network, surged 20% in value.
The addition of these tokens to the South Korean trading platform reflects the crypto exchange’s focus on expanding trading options for its users. The listing sparked immediate excitement, with both assets gaining heightened interest from traders.
Bithumb Adds Raydium and Ponke in KRW Pairs
Bithumb has officially added Raydium (RAY) and Ponke (PONKE) to its KRW pairs, according to a November 19 announcement. Following the Bithumb listing, The tokens experienced witnessed massive interest from traders, highlighting immediate market excitement.
The trading support for RAY and PONKE on the Solana network allows users to deposit and withdraw within three hours of the announcement. Full trading for both tokens will begin at 5:00 PM KST on Tuesday, giving users access to the new pairs as trading officially starts.
To ensure secure trading, Bithumb has set specific transaction restrictions. For the first five minutes, buying orders are paused, and selling orders are limited within -10% to +100% of the base price. Automatic orders will activate following the initial transaction, establishing a controlled entry for these tokens in the KRW market.
Price Surge and Market Context for RAY and PONKE
Raydium price is currently trading at $5.90, marking a 10% increase following its listing on Bithumb. In the past 24 hours, RAY’s price ranged from a low of $5.519 to a high of $6.144. Trading volume reached $173 million, with a market cap of $1.73 billion, showing increased interest in this Solana-based AMM protocol.
Ponke also listed on Bithumb, saw a 20% price jump and is now trading at $0.80. The token’s 24-hour range was between $0.68 and $0.84, while its trading volume hit $115 million. With a market cap of $456 million, demand for this Solana-based meme coin is rising.
Listings on major exchanges often boost crypto prices by increasing access and exposure. BAN price surged 80% after its listing on Binance Futures. Such listings highlight the significant impact of exchange support on crypto assets.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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