Bithumb, a prominent cryptocurrency exchange in South Korea, has initiated trading of the DeBridge (DBR) token, leading to a significant price surge of 30%. This announcement, made on December 20, marked a major milestone for the token, which subsequently reached an all-time high following its listing.
How Does DBR Token Trade?
The newly listed DBR token can now be traded using the Korean Won (KRW). Trading began at 6:00 PM on December 20, with deposit and withdrawal services available. Initially, trading was limited to the Solana network, with strict measures in place to ensure stability in the market.
What Factors Influenced DBR’s Price Surge?
The price of DBR experienced a rapid spike, hitting $0.04702 before settling around $0.04191. Within a 24-hour span, the price fluctuated between $0.03119 and $0.04702, supported by a market cap of $49 million and a trading volume of $46 million. Analysts highlight that the price surge is driven by heightened interest in decentralized finance (DeFi) projects, alongside the token’s innovative features.
- DBR token trading initiated on Bithumb on December 20.
- The token’s price increased by 30% after the listing.
- Initial trading is limited to the Solana network.
- Growing interest in DeFi projects is driving demand for cross-chain solutions.
As demand for cross-chain technologies continues to rise in the DeFi sector, the listing of the DBR token by Bithumb reinforces its potential impact in the industry. This strategic move not only elevates the token’s market presence but also enhances confidence among market participants.