Bithumb Lists Radiyum and Ponke Tokens

Bithumb, a leading cryptocurrency exchange based in South Korea, announced the addition of two new token lists for its platform, Raydium (RAY) and Ponke (PONKE).

Both tokens operating on the Solana (SOL) chain will be available for trading on the Korean Won (KRW) market starting at 17:00 KST on November 19.

The starting price for Raydium is $5.63 (KRW7,855), while the price for Ponke is listed at $0.71 (KRW992). Bithumb required users to complete 20 deposit confirmations for token transactions. To facilitate smooth trading, asset-specific rules such as buy orders will be disabled for the first 5 minutes, while sell orders during this period will be limited to a price range between -10% and +100% of the initial list price.

Additionally, automatic trading will only be allowed after the initial trade is completed. Bithumb will only support deposits and withdrawals through service providers that comply with travel guidelines and encourages users to verify the correct network and address before committing transactions. Considering that cryptocurrencies are considered high-risk assets, the crypto exchange advises investors to conduct thorough research before starting to trade, especially since newly listed tokens can exhibit significant volatility.

Raydium Fluctuations

Raydium and Ponke have performed exceptionally well recently despite being in different ecosystems and having different factors driving their growth.

Raydium, an Automated Market Maker (AMM) and liquidity provider on the Solana blockchain, saw an impressive 280 percent price increase between October 10 and November 9. This rise was accompanied by a noticeable increase in platform fees. It rose from $300,000 in September to more than $10.73 million in mid-November. This increase in revenue was primarily due to the increasing popularity of meme coins on the Solana Network, which led to higher transaction volumes and fees.

Raydium Chart Ponke by crypto.news Hits Ponke (PONKE) Chart by crypto.news

On the other hand, the relatively new Ponke also recorded impressive growth, gaining over 61 percent in value in just one week, reaching $0.7971. The token’s market capitalization increased by 10% to approximately $444.89 million, and its 24-hour trading volume was over $144 million, indicating strong interest from investors. The increase in the token price may also be credited to the token’s relatively small circulating supply of 555.54 million. Ponke’s growth likely reflects strong momentum driven by increased adoption due to listing on the Bithumb exchange.