Bithumb Lists Toncoin and MetisDAO, Trading Begins with KRW Pairs
Bithumb, a major crypto exchange in South Korea, has announced the listing of two altcoins, Toncoin #TON and MetisDAO #METIS. This listing is expected to enhance market adoption and potentially trigger a price rebound for Toncoin.
Operational Details for the New Listings
The newly listed tokens will be paired with the Korean Won (KRW). Toncoin (TON) and MetisDAO (METIS) will trade under the TON/KRW and METIS/KRW pairs. South Korean traders can buy and sell these altcoins directly using local payment methods without needing to convert KRW into other cryptocurrencies.
Deposits and withdrawals for Toncoin will occur through the TON network, with a reference price set at 7,395 KRW. MetisDAO will debut on Bithumb’s KRW market via the Ethereum network, accepting only Ethereum deposits, and has a reference price of 87.04 KRW.
Both tokens went live within three hours of the announcement; however, Toncoin requires 1 confirmation for deposits, while MetisDAO requires 33 confirmations. This ensures secure trading while allowing users to start trading promptly.
Potential Impact on Toncoin (TON)
The Bithumb listing could significantly affect Toncoin's price by increasing liquidity as more users access it through the KRW market. Currently, Toncoin's price increased by 1.88% to $5.483 after reaching a 24-hour low of $5.208.
The listing may foster retail adoption of TON, complementing existing whale interest. South Korean investors, known for their engagement with innovative blockchain projects, may drive demand for Toncoin and related Telegram-based tokens.