Getting listed on popular exchanges has become a top priority for altcoin developers. It seems communities get excited over such trends rather than actual developments. If history is to repeat itself, both Cardano and Status Network enthusiasts will be over the moon for some time to come. Bithumb has decided to list both currencies this week.
Bithumb Adds New Currencies
Although Bithumb is not the world’s largest cryptocurrency exchange, its position can’t be disputed. When it comes to South Korea, this platform clearly dwarfs all others. It also enables KRW trading for all of its supported currencies, which is great news for altcoins. Those currencies usually struggle for fiat gateway action.
Cardano(ADA) and Status Network Token(SNT) will be listed on Bithumb Today!😀
— Bithumb (@BithumbOfficial) June 14, 2018
In the case of Bithumb, the exchange decided to add two new currencies. The choice for Cardano makes a lot of sense. This altcoin has been on a powerful ride to the top for quite a while now. Enabling KRW support for this cryptocurrency will undoubtedly lead to some interesting price movements.
Adding Status Network seems to be a different matter. While Status has been in development for some time now, it’s not on the same level as Cardano or other supported currencies on Bithumb. That doesn’t mean it can’t be a valuable addition to the South Korean platform, though. Overall, an interesting choice.
South Korea Remains a Critical Market
It is highly likely both currencies will see minor price pumps due to this exchange listing. Bithumb, as well as its domestic competitors, play a role of importance in cryptocurrency. Ever since China fell off the Bitcoin radar, South Korea is widely considered to be the top nation for cryptocurrency trading activity these days.
Additionally, the region is home to some positive Bitcoin regulation as well. Domestic exchanges can thrive and grow. While the government is still on the fence about ICOs, it seems even that situation is evolving in a good direction. Otherwise, SNT wouldn’t be added to Bithumb, as the token was sold during an initial coin offering in 2017.
All of this further confirms the industry continues to evolve. For cryptocurrency enthusiasts, this is the best news one can ask for. Despite falling prices and regulatory scrutiny, the demand for cryptocurrency trading remains relatively high. Eventually, that can lead to some upward price corrections in the second half of 2018.
What do you think about Bithumb adding Cardano and Status Network Token? Let us know in the comments below.
Images courtesy of Shutterstock and Twitter/@BithumbOfficial.