Waves (WAVES), ChainLink (LINK) Jump on Upcoming Bithumb Listing

The South Korean crypto exchange will add the two coins next week, with the support announcement triggering a significant price increase for WAVES and LINK on Wednesday morning.

Waves (WAVES) and ChainLink (LINK), two native tokens in blockchain-based platforms, leaped more than 10% and 20%, respectively, on a daily basis on Wednesday morning UTC as one of the largest digital currency markets, Bithumb, said it would add the two coins to its trading roster next week.

The South Korean exchange published the announcement at around 01:00 UTC on Wednesday, prompting an immediate price increase for both WAVES and LINK. The former, which is the cryptocurrency of a Moscow-based decentralized platform for token management, rose from $2.16 to $2.41 less than a 15 minutes after the release of Bithumb’s statement. Seven hours later, the asset had sustained the positive momentum, changing hands at $2.34, which was an 11.59% increase compared to the previous day.

WAVES clocked more than $11.6 million in trading volume for the 24 hours to 08:25 UTC on Wednesday. UpBit markets with Korean won, Bitcoin (BTC), and Ethereum (ETH) accounted for around $4.5 million of it, followed by $3 million in trading from WAVES pairs with BTC, ETH and Binance Coin (BNB) on Binance. WAVES currently ranks at number 37 in the market capitalization list with $234.4 million in value.

Bithumb also triggered a significant price increase for ChainLink, the non-minable ERC20 token behind the connectivity platform of US-based company SmartContract. LINK changed hands at $0.28 at 00:54 UTC on Wednesday but jumped to $0.33 at 01:14 as the South Korean exchange announced its support. The cryptocurrency was trading at nearly $0.34 at the time of writing, which made for an increase of 22.47% on a daily basis.

ChainLink sits at number 51 by value with a market cap of more than $118.6 million. In the past day, it clocked trading volumes of $5.2 million, of which $4.6 million came from Binance markets with BTC and ETH.

Waves and ChainLink on Bithumb

The exchange will support one trading pair for WAVES and LINK each, matching them with the country’s fiat currency, the won. Bithumb will open the trading services on September 24 at 15:00 UTC, but deposits will be available as of September 20.

Bithumb, which experienced a hack attack in June, is one of the largest cryptocurrency exchanges. In the last 24 hours, its market volume reached nearly $392 million.

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