Bithumb, South Korea’s second largest cryptocurrency exchange, today announced its list of two new Altcoins.
New supported tokens include Lista Dao (Lista) and Merlin Chain (Merl). The list announcement caused double-digit price increases for both crypto assets, pushing them to six-month highs.
Bithumb announces lists for Lista and Merl
According to an official Bithumb announcement, Tokens will be available for trading with South Korea’s Won (KRW). Deposits and withdrawals will be available within three hours of the announcement.
“In accordance with travel rules, deposits and withdrawals are only supported through virtual asset service providers supported by Bithumb,” the announcement reads.
The exchange added that Lista trading is scheduled to begin at 4pm Korean Standard Time (KST) on July 24th. The reference price is 354 KRW.
After this, Bithumb will begin trading Merl at 6pm on KST. The reference price for AltCoin is 161 KRW.
Following the news, the price responded sharply. Lista, the native token of open source lending and liquidity protocols, Lista Dao, surged 33.97%. Since January 2025, the price has reached $0.36, marking the highest level of the Lista.
Similarly, Merl, the native token for Bitcoin Layer-2 network, Merlin Chain, rose 20.53% to the level last seen in late January, the $0.168.
These price movements highlight the important impact of South Korea’s exchange on the Altcoin market. Upbit and Bithumb have previously promoted tokens such as Hyperlane (Hyper), Babylon (Baby), and Huma Finance (Huma).
In particular, the strong presence of exchanges in one of the biggest cryptocurrency markets could be a key driver behind its impact. According to Ledger, 27% of individuals aged 20-50 in South Korea currently own digital assets, with 70% showing interest in expanding their crypto portfolio this year.
The value of digital assets across the top five exchanges across the nation, Upbit, Bithumb, Coinone, Korbit and Gopax, is over 100 trillion won ($73 billion), strengthening South Korea’s position as a global frontrunner in the adoption of blockchain.
This control within Korea also benefited the exchange. Bithumb, for example, has seen trading volumes triple over the past month.
Coingecko’s data reveals that the volume has risen from around $758 million to $2.7 billion, showing an impressive surge of 256.2%.
Similarly, Upbit has experienced amazing spikes in the volume. It grew from $1.7 billion to $8.3 billion, reflecting a 388.24% increase.
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