NEO (neo) 
Bithumb Lists Raydium and Ponke Tokens, Boosting Solana Ecosystem
Bithumb, a leading South Korean cryptocurrency exchange, has added two new tokens to its platform: Raydium (RAY) and Ponke (PONKE). Both tokens, built on the Solana blockchain, became available for trading in the Korean Won (KRW) market on November 19.
Token Listing Details
Raydium was listed at an initial price of $5.63 USD (7,855 KRW), while Ponke’s price was listed at $0.71 USD (992 KRW). To ensure smooth trading, Bithumb has implemented asset-specific rules, including disabling buy orders for the first 5 minutes and limiting sell orders to a price range of -10% to +100% of the initial listing price.
The exchange also requires users to make 20 deposit confirmations for transactions involving these tokens. Automated trading will only be allowed after the first trade is completed. Additionally, Bithumb will only support deposits and withdrawals through service providers that comply with the travel rule, urging users to verify the correct network and address before making transactions.
Risk Warning and Research Advice
Given that cryptocurrencies are considered high-risk assets, Bithumb advises investors to conduct thorough research before entering into trading, particularly since newly listed tokens may exhibit substantial volatility.
Raydium and Ponke Performance
Both tokens have performed exceptionally well lately, with Raydium surging 280% in price between October 10 and November 9. This increase was accompanied by a notable uptick in platform fees, which jumped from $300,000 in September to over $10.73 million by mid-November. Ponke, on the other hand, gained over 61% in value in just a week, with a market capitalization of approximately $444.89 million and a 24-hour trading volume of over $144 million.
Tips for Trading Newly Listed Tokens
- Conduct thorough research on the token’s ecosystem, use case, and potential risks.
- Set clear investment goals and risk management strategies.
- Monitor market trends and adjust your trading strategy accordingly.
- Stay up-to-date with the latest news and developments in the cryptocurrency market.
Stay Informed with Global Crypto News
For the latest news and updates on the cryptocurrency market, including newly listed tokens and exchange developments, visit Global Crypto News. Stay ahead of the curve and make informed investment decisions with our expert analysis and insights.
