Bithumb adds Lorenzo Protocol (BANK) to KRW trading on July 27

BANK surged after trading opened on Bithumb's won market, briefly reaching about $0.595 on Binance before retreating to around $0.41 amid sharp post-listing volatility.

USDT

Summary

Lorenzo Protocol's BANK began trading in Bithumb's KRW market on July 27 at 6:00 a.m. UTC and quickly saw sharp price swings after the listing. Based on Binance's USDT spot pair, BANK rose to as high as $0.595 at around 6:17 a.m. UTC before giving back much of the move and trading near $0.41. The token had traded around $0.04 on July 13, underscoring the scale of its recent gains. A won-denominated listing on one of South Korea's major crypto exchanges can widen local access and liquidity, though newly listed tokens often experience elevated volatility as price discovery unfolds across venues.

Terms & Concepts
  • KRW market: A trading market where assets are bought and sold against the Korean won.
  • USDT spot trading pair: A market where a token trades directly against USDT for immediate settlement rather than derivatives exposure.
  • price discovery: The process by which markets determine an asset's value as buyers and sellers react to new information and liquidity.