MORPHO skyrocketed 17.44% following Bithumb’s announcement.
The listings come amid the collapse of the local crypto market post martial law.
Bithumb, one of the leading digital asset trading platforms in South Korea, has announced the listing of Korean won trading pairs of prominent meme coins Neiro and Sundog along with Morpho (MORPHO), a decentralized lending protocol based on Ethereum, on Thursday. The prices of these altcoins turned bullish after the announcement.
In a listing notice, Bithumb that it will list NEIRO at 06:00 PM (local time), MORPHO at 06:30 PM (local time), and SUNDOG at 07:00 PM (local time). The deposits will start within 3 hours from the time the notice is posted for all these altcoins, giving them exposure to investors from a new region, considering the fact that Bithumb is the second-largest exchange in South Korea and the 18th largest overall, with a spot trading volume of $4.58 billion.
NEIRO will be listed at a base price of 2,434 won ($1.72), MORPHO with a standard price of 2,319 won ($1.64), and SUNDOG at a base price of 245 won ($0.17). Additionally, like all the other listings on Bithumb this year, the buy orders for these altcoins will be limited for 5 minutes after the listing. On the other hand, sell orders will be limited to -10% or less of the base price for 5 minutes after listing.
Crypto exchange listings are often related to price surges or even declines in some cases and, as a result, are often anticipated events in the digital asset space. It is important to note that Bithumb has been on a token listing spree this year, recently listing the Korean won pairs of the artificial at a base price of 1,486 won. The altcoin then proceeded to make a new all-time high. Similar price surges were noted when the Korean crypto exchange announced the listing of BounceBit and SKALE .
The listing announcement comes amid a crash in South Korean crypto markets after President Yoon Suk-yeol emergency martial law on Tuesday. The decision is an attempt to protect the nation’s borders and resulted in massive volume crashes on South Korea’s top three exchanges – Upbit, Bithumb, and Coinone.
SUNDOG, NEIRO, and MORPHO Prices Surge
With their respective Bithumb listing, the prices of SUNDOG, NEIRO, and MORPHO surged in the past 24 hours, with MORPHO skyrocketing 17.44%, outperforming the other two. At the time of writing, SUNDOG is trading at $0.2, up 6.67%; NEIRO is priced at $0.001818, up 4.29%; and MORPHO trades at $1.96.
Interestingly, SUNDOG has surged a massive 90.15% in the past month, while MORPHO and NEIRO are up 14.86% and 38.06% in the same time period, respectively. However, the altcoins are still down in double digits from their all-time highs.
