Bithumb Launches KRW Trading Pairs for RedStone and Nillion
South Korea's Bithumb exchange has launched trading pairs for RedStone (RED) and Nillion (NIL) against the Korean Won (KRW), effective March 25. This move resulted in contrasting price movements: RED increased by 16%, while NIL decreased by 16%.
Key details include:
- RED trading starts at 4:00 PM KST with a base price of 892 KRW ($0.68).
- NIL trading begins at 7:00 PM KST with a base price of 1,044 KRW ($0.75).
- Bithumb has implemented measures to prevent market manipulation, including restrictions on buy orders and limits on sell orders.
- Deposits and withdrawals are supported through specific networks only.
About the tokens:
- RED is the utility token for RedStone Oracles, which provides data feeds for dApps and has gained over 65% in value recently, now trading at $0.68 with a market cap of $192 million.
- NIL, the token of Nillion Network, focuses on secure data processing and trades at $0.75 after a significant drop, with a market cap of $147 million.