Upbit and Bithumb, major cryptocurrency exchanges in Korea, announced today that they will list two new altcoins, Hyperline (HYPER) and Babylon (BABY).
After the announcement, both altcoins showed significant increases, with HYPER surging over 100%.
Upbit, Bithumb List New Altcoins to Activate Market
In the official notice, Upbit, Korea's largest cryptocurrency exchange, announced the listing of the BABY token. This token can be traded in BTC and USDT pairs, providing users with more trading options. Trading will start at 16:00 Korean Standard Time (KST).
Additionally, the exchange added support for HYPER trading in Korean Won (KRW) pairs, allowing local investors to participate in altcoins using their domestic currency.
HYPER/KRW trading will start at 17:00 KST. This listing comes after Upbit first introduced HYPER in BTC and USDT pairs at the end of May.
"Please be sure to verify the network before depositing digital assets. Deposits and withdrawals through networks other than the designated network are not supported," the notice states.
Meanwhile, the second-largest exchange, Bithumb, also confirmed the addition of the HYPER/KRW spot trading pair. Like Upbit, trading will start at 17:00 KST.
This announcement triggered an immediate market response. HYPER, the native token of the interoperability protocol Hyperline, saw a triple-digit surge. It was trading at around $0.151 before the announcement and quickly rose to $0.348.
This reflected a remarkable 130% increase. At the time of reporting, HYPER was trading at $0.31, maintaining a 102.59% increase.
Additionally, the BABY cryptocurrency token of the Babylon Protocol sharply rose 21% after the listing announcement but later adjusted. At the time of reporting, it was trading at $0.052, up 10.69%.
The recent price surge highlights the growing influence of Korean cryptocurrency exchanges on altcoin performance. This surge is similar to previous instances where tokens like Radium (RAY), Huma Finance (HUMA), and Porta (FORT) experienced significant increases after being listed on these platforms.
