Oh, do pay attention, won’t you? Apparently, something rather exciting has occurred in the world of… cryptocurrency. Yes, really. It appears that Euler, a token of some sort, has experienced a bit of a surge – over 30%, if you’re keeping score. All because Bithumb, a South Korean exchange, has deigned to list it for trading against the Korean Won. Honestly, the drama! 🙄
- Euler has become frightfully popular, gaining over 30% thanks to Bithumb’s little announcement. Trading started on September 5th, naturally.
- Trading volume shot up – 292%, darling! – suggesting someone, somewhere, is extraordinarily keen.
- Technically speaking (and who really enjoys that?), there’s “bullish momentum”, but a rather bothersome resistance level near $15.81 persists.
The whole charade is due to commence at 5:00 p.m. local time, and the effect has been… noticeable. As of this moment, EUL is up a rather giddy 34% from yesterday, chugging along at $13.02, though it’s been bouncing between $9.25 and $13.33, a bit like a particularly excitable ping-pong ball.
Its “market capitalization” (such jargon!) stands at a mere $242 million, though its “fully diluted valuation” reaches a rather ambitious $353 million. Still, rather disappointingly, it remains about 20% shy of its all-time high of $15.81, achieved on July 11th. One does wonder.
Bithumb’s pronouncement has, predictably, caused a flurry of activity. Daily volume leaped by 292% – to a whopping $9.58 million! Apparently, these “listings” are terribly important. Something to do with new capital and “liquidity”. Goodness.
A Spot of Other News
Bithumb’s enthusiasm follows a series of developments. Euler was added to Coinbase (for the Americans, you understand), and they’ve dabbled with something called “isolated ETH markets on Linea” in an attempt to be more scalable and cheaper. How terribly modern. 🤷
They also celebrated a year since their V2 upgrade, which included the “Euler Vault Kit”. And, to mark the occasion, they launched “EulerEarn”, a scheme involving $50,000 in digitally created currency. Such generosity!
And, just for good measure, they’ve linked up with Pendle. Consequently, their “total value locked” has increased to $1.5 billion. From a paltry $100 million at the beginning of the year – honestly, the progress!
Technical Bits and Bobs (If You Must)
The price jump has pushed EUL above the “upper Bollinger Band” (whatever *that* is), signalling “strong momentum”, but also a potential for an overextension. The “Relative Strength Index” is a rather modest 67, so not entirely overbought.
The “moving average convergence divergence” suggests caution, but things are generally looking rather bullish.
If this momentum persists, EUL might reach that $15.81 high again. But if everyone decides to take their profits, a fall to the $10.50-$11.00 range is entirely plausible. One simply can’t predict these things, can one? 🥂
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2025-09-05 09:40