TLDR
- ZORA‘s price surged 17% after listing on Upbit against KRW, BTC, and USDT.
- Bithumb listed Infinit, Doodles, and YieldBasis, leading to modest price gains.
- ZORA’s Believe Fund allocates 20 million tokens to support creators in the ecosystem.
- Upcoming ZORA token unlock on October 30 could cause short-term market volatility.
Upbit and Bithumb, two of South Korea’s largest cryptocurrency exchanges, have announced the listing of four new altcoins today, sparking interest in the market. Upbit’s addition of ZORA has already led to a notable price surge, while Bithumb introduced three new tokens: Infinit (IN), Doodles (DOOD), and YieldBasis (YB). These listings have caused positive price movements for all listed tokens, attracting attention from both traders and investors.
Upbit Lists ZORA Token
Upbit has officially listed ZORA, a token from the creator-focused platform, marking an important milestone for the asset. Starting at 13:30 KST, ZORA became available for trading against KRW, BTC, and USDT on the Base network.
The exchange implemented temporary restrictions, including limited buy orders and low-priced sell orders for the first few minutes, to ensure smooth trading. Despite these measures, ZORA’s price surged by 17%, rising from around $0.094 to $0.11 shortly after the listing announcement.
ZORA’s ecosystem has seen substantial growth recently. With the introduction of creator coins on the Base network and the Believe Fund, which aims to provide financial support to creators, the platform has garnered increased attention. The Believe Fund will allocate 20 million ZORA tokens to aid in building a sustainable creator economy. However, the upcoming token unlock on October 30, which will release 166.67 million ZORA tokens, could lead to short-term volatility.
Bithumb Lists Infinit, Doodles, and YieldBasis
Bithumb, another major South Korean exchange, has added three new altcoins to its platform: Infinit (IN), Doodles (DOOD), and YieldBasis (YB). Trading for IN and DOOD began at 4:00 PM KST, while YB launched an hour later at 5:00 PM KST. The listing of these tokens has had an immediate positive effect on their prices. IN saw a 6.78% increase, while DOOD and YB gained 8.37% and 8.41%, respectively, following the announcement.
These altcoins have been gaining attention for their unique offerings within the crypto space. Infinit aims to revolutionize decentralized finance (DeFi), while Doodles brings a creative spin to the NFT market. YieldBasis focuses on yield optimization, further broadening Bithumb’s selection of digital assets. Bithumb’s expansion of supported altcoins allows traders more opportunities to diversify their portfolios.
Market Reaction and Trading Patterns
The reactions to both Upbit and Bithumb’s listings demonstrate a growing interest in these new altcoins. ZORA’s immediate price jump reflects its rising popularity, particularly after the launch of the creator coins and the Believe Fund. Similarly, the modest price increases of IN, DOOD, and YB show that traders are responding positively to Bithumb’s added offerings.
The listing of tokens on major exchanges like Upbit and Bithumb often leads to an influx of trading volume and market interest. This is especially true when the listings coincide with platform expansions or new features that attract attention from the crypto community. As a result, the altcoins listed today are expected to continue drawing investor interest in the coming days.
Potential Volatility and Future Outlook
While the initial price reactions have been positive, both Upbit’s ZORA listing and Bithumb’s new tokens could experience volatility in the near future. ZORA’s token unlock scheduled for October 30 could introduce fluctuations in its price, as the release of over 166 million tokens may affect supply and demand dynamics. Similarly, the relatively new listings on Bithumb may see price adjustments as more traders become familiar with the assets and their market behavior.
For now, all four tokens have shown resilience and potential for further price movements. As the market absorbs these new listings and trading begins to stabilize, traders will likely be watching for any developments in the projects behind these tokens.
