South Korea’s second-largest crypto exchange, Bithumb, announced the listing of two new coins, RAY and PONKE, in the KRW market today.
RAY and PONKE Listed on Bithumb
Earlier today, Bithumb added two new cryptocurrencies to its platform: Raydium (RAY) and Ponke (PONKE). Trading began at 5:00 AM Korean time. The initial price for RAY was set at 7,855 KRW, and for PONKE at 992 KRW. The exchange's announcement led to price increases for these coins.
RAY Price Spike
On November 19, around 5:00 AM, RAY experienced a price surge from $5.6 to $6.05, before a correction. As of writing, the price is $5.71, down 1.5% from the earlier peak. The past week has seen high volatility, with a high of $6.15 on November 18. Raydium is an automated market maker (AMM) protocol based on Solana, supporting liquidity provision and decentralized trading.
PONKE Reaches New ATH
Earlier today, PONKE also saw a price surge, rising from $0.72 to over $0.83, marking a new all-time high. Currently, PONKE is trading around $0.8, up 13% in the last 24 hours. The earlier price surge increased the market cap from $407 million to over $448 million. PONKE is a memecoin on Solana symbolizing a monkey.
The listing on Bithumb caused significant price surges for RAY and PONKE. Raydium and Ponke have gained visibility in the market, showing high volatility and investor interest.
