Upbit and Bithumb Announce 2 New Altcoin Listings, Triggering Price Surges

South Korea’s leading crypto exchanges, Upbit and Bithumb, have announced the listing of two new altcoins today: Hyperlane (HYPER) and Babylon (BABY). 

Following the announcement, both altcoins experienced significant gains, with HYPER surging by over 100%.

Upbit and Bithumb Boost Market with New Altcoin Listings

In an official notice, Upbit, South Korea’s largest cryptocurrency exchange by trading volume, announced that it will list the BABY token. The token will be available for trading against Bitcoin (BTC) and Tether (USDT) pairs, offering users more options to trade this altcoin. Trading will begin at 16:00 Korean Standard Time (KST).

Additionally, the exchange will add trading support for HYPER against the Korean Won (KRW) pair, allowing local investors to engage with the altcoin in their native currency.

HYPER/KRW trading will start at 17:00 KST.  These listings follow Upbit’s initial introduction of HYPER against the BTC and USDT pairs in late May. 

“Please make sure to check the network before depositing any digital assets. Deposits/withdrawals through networks other than the indicated network will not be supported,” the notice read.

Meanwhile, Bithumb, the second-largest exchange, also confirmed the addition of the HYPER/KRW spot trading pair. Similar to Upbit, the trading will begin at 17:00 KST.

The announcement triggered immediate market reactions. HYPER, the token native to the interoperability protocol, Hyperlane, saw a triple-digit rise. It was trading at around $0.151 prior to the news but quickly surged to $0.348. 

This reflected a remarkable 130% increase. At press time, HYPER was trading at $0.31, maintaining a 102.59% gain. 

In addition, the Babylon protocol’s BABY crypto token experienced a sharp 21% spike after the listing announcement but later moderated. It was trading at $0.052 at press time, up 10.69%.

The recent price rise highlights the increasing influence that South Korea’s crypto exchanges have on the performance of altcoins. This surge is not an isolated event, as it mirrors similar price increases seen in the past with tokens such as Raydium (RAY), Huma Finance (HUMA), and Forta (FORT), all of which experienced significant gains after securing listings on these platforms.

The post Upbit and Bithumb Announce 2 New Altcoin Listings, Triggering Price Surges appeared first on BeInCrypto.