Bithumb, the largest cryptocurrency exchange in South Korea, announced the listing of Raydium (RAY) and Ponke (PONKE) tokens against KRW trading pairs. Following this announcement, the price of RAY increased by 10%, while PONKE saw a 20% rise. Both tokens attracted significant interest from users.
Raydium and Ponke Listed on Bithumb
On November 19, Bithumb revealed it had added Raydium and Ponke tokens to its platform. This listing allows Solana 
$243-based projects to reach a broader investor audience. Users initiated deposit transactions for RAY and PONKE within three hours of the announcement. Trading support will officially begin on Tuesday at 17:00 KST.
The exchange implemented temporary restrictions to ensure trading security. During the first five minutes, only sell orders were permitted, with sale prices limited to a range of -10% to +100% of the base price. Subsequently, automatic orders were activated to facilitate a controlled market entry for the tokens. These measures were essential to prevent speculative fluctuations in token prices.
Market Performance of Raydium and Ponke
After listing on Bithumb, Raydium reached $5.90, representing a 10% increase. The token’s price fluctuated between $5.519 and $6.144 over the past 24 hours. With a trading volume of $173 million, Raydium’s market capitalization reached $1.73 billion, highlighting the growing visibility of projects within the Solana ecosystem.
Similarly, Ponke token gained 20% in value post-listing. Currently trading at around $0.80, Ponke fluctuated between $0.68 and $0.84 within 24 hours. Its trading volume was reported at $115 million, with a market cap of $456 million, showcasing the positive impact of the Bithumb listing on investors.
Listings on major cryptocurrency exchanges significantly contribute to price increases and visibility for tokens. The 80% increase in the value of the BAN token listed on Binance Futures exemplifies this effect. The success of Raydium and Ponke indicates a growing global interest in projects within the Solana ecosystem.
Market participants believe that support from major exchanges plays a crucial role in the future of cryptocurrency assets. These listings have the potential to create a stronger investor base for Raydium and Ponke.
