Korea’s major crypto exchanges, Upbit and Bithumb, today announced a list of two new Altcoins: Hyperlane (Hyper) and Babylon (Baby).
Following the announcement, both Altcoins experienced significant profits, with the ultra-high surge rising by over 100%.
Upbit and Bithumb Boost Market with new Altcoin lists
In its official notification, Upbit, Korea’s largest cryptocurrency exchange, announced that it will list baby tokens by trading volumes. The token will now be available for trading with Bitcoin (BTC) and Tether (USDT) pairs, providing users with more options for trading this AltCoin. Trades begin at 16:00 Standard Time (KST) in Korea.
Additionally, the exchange will add hyper trading support for the Korean winner (KRW) pair, allowing local investors to engage with Altcoin in their native currency.
Hyper/KRW trading starts at 17:00 KST. These lists follow Upbit’s first introduction to Hyper on the BTC and USDT pair in late May.
“Please check your network before depositing your digital assets. Deposits/drawers over networks other than the specified network are not supported,” the notification read.
Meanwhile, Bithumb, the second largest exchange, has also confirmed the addition of a Hyper/KRW Spot trading pair. Like Upbit, the transaction begins at 5:00 PM KST.
The announcement sparked an immediate market response. Hyper has seen triple digit rises in Hyper Lane, a token native to interoperability protocols. It was trading for around $0.151 before the news, but quickly surged to $0.348.
This reflects a noticeable 130% increase. At Press Time, Hyper maintained a profit of 102.59% and was trading at $0.31.
Additionally, Babylon Protocol’s Baby Crypto Token experienced a sharp 21% spike after the listing’s announcement, but was later eased. It was $0.052 at press, an increase of 10.69%.
Recent price increases highlight the increased impact of South Korea’s crypto exchange on altcoins’ performance. This surge is not an isolated event as it reflects similar price increases seen in the past in tokens such as Raydium (Ray), Huma Finance (HUMA), and Forta (Fort).
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