Haedal Protocol's market cap has significantly increased following the announcement of its Bithumb listing, indicating a growing interest in the project.
Market Cap and Bithumb Listing
Haedal Protocol, a liquid staking platform on the Sui blockchain, saw its market cap rise from nearly $25 million to $32 million after the announcement of its listing on Bithumb, South Korea's second-largest exchange.
Increase in Trading Volume
Following the listing announcement, there was a 20% boost in daily trading volume, reaching $180 million. Key exchanges like Binance Alpha, Bybit, and KuCoin had already listed the token prior to this rise.
Institutional Interest and Future of Staking
The futures open interest rising to over $45 million reflects increased institutional interest in the project. A stable funding rate indicates balanced market sentiment, which could influence regulatory dynamics and demand for staking technology.
The listing of Haedal Protocol on Bithumb marks an important milestone for the project, underscoring its significance in the digital asset sector and the potential for increased institutional investment.
