Raydium Price Soars 10% and Ponke Jumps 20% On Major Listing

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As a seasoned crypto investor with over a decade of experience under my belt, I can confidently say that the recent addition of Raydium (RAY) and Ponke (PONKE) to Bithumb has been nothing short of exhilarating. Having witnessed numerous listings on various exchanges, I’ve learned to spot trends and anticipate price movements. The surge in both RAY and PONKE following their listing is a testament to the power of exchange support and market excitement.

Raydium and Ponke underwent substantial price increases after being included in Bithumb, a prominent South Korean cryptocurrency exchange. Specifically, the price of Raydium, an automated market maker (AMM) protocol on Solana’s network that also provides liquidity, rose by 10% post-listing. Meanwhile, Ponke, a meme coin operating on the same network, witnessed a 20% surge in value following the announcement of its listing.

Including these cryptocurrencies on the South Korean trading platform indicates the crypto exchange’s commitment to offering a broader range of trading choices for its customers. This listing ignited instant enthusiasm, as both digital assets received increased attention from traders due to the surge in their popularity.

Bithumb Adds Raydium and Ponke in KRW Pairs

According to an announcement on November 19th, Bithumb has now included Raydium (RAY) and Ponke (PONKE) in its Korean Won (KRW) pairs. This move has sparked significant attention from traders, indicating an immediate surge of market enthusiasm following the listing on Bithumb.

On the Solana network, users can deposit or withdraw RAY and PONKE tokens within a timeframe of three hours following the announcement. Commencing at 5:00 PM KST on Tuesday, full trading for both tokens will be available, enabling users to trade the new pairs as official trading begins.

For secure transactions on Bithumb, certain limitations have been established. During the first five minutes, purchases are temporarily halted, while selling orders can only be made within a range of 10% below or 100% above the base price. After this initial period, automatic orders will become active, providing a controlled entry for these tokens into the KRW market.

Price Surge and Market Context for RAY and PONKE

Right now, the price of Raydium is being exchanged at approximately $5.90. This represents a 10% rise since its addition to Bithumb. Over the past day, the value of RAY has fluctuated between $5.519 (its lowest point) and $6.144 (its highest). The trading volume has surged to $173 million, giving Raydium a market capitalization of around $1.73 billion. This suggests a growing curiosity in this Solana-based Automated Market Making protocol.

Additionally, it’s worth noting that Ponke was added to the Bithumb exchange as well. This move resulted in an increase of approximately 20% in its price, with the token now trading at around $0.80. Over the past 24 hours, its value has fluctuated between $0.68 and $0.84. The trading volume for this Solana-backed meme coin reached an impressive $115 million. Given a market cap of roughly $456 million, there seems to be a growing interest in this digital asset.

Crypto prices frequently rise when a listing occurs on significant exchanges, as it enhances availability and visibility. For instance, the BAN token’s price skyrocketed by 80% following its inclusion in Binance Futures. This demonstrates the substantial role that exchange backing plays in cryptocurrency assets.

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2024-11-19 10:04