Bithumb Lists Vitalik Buterin-Backed ETH Layer 2 and Top Meme Coin

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Bithumb, the second-largest cryptocurrency exchange in South Korea, has revealed plans to list BRETT and TAIKO on the Korean won market on July 9 at 18:00 local time. TAIKO is a layer 2 zkEVM Ethereum network that has received backing from Vitalik Buterin. BRETT is a prominent meme coin built on the Base chain. Both cryptocurrencies saw significant price increases following the listing announcement, reflecting investor enthusiasm.

List details and market impact

Bithumb officially announced the launch date of BRETT and TAIKO trading in the Korean won market on July 9 at 18:00 local time. The announcement sparked great excitement and trading activity among investors, leading to significant price increases for both BRETT and TAIKO.

TAIKO, a layer 2 zkEVM Ethereum network backed by Vitalik Buterin, will be listed at a base price of 2,938 won. The exchange has set the number of deposit confirmations required for TAIKO transactions at 30. This relatively low number of confirmations indicates a balance between security and transaction speed, which may appeal to traders looking for efficient transactions.

BRETT, a popular meme coin on the Base chain, will enter the market at a base price of 149 won. Bithumb has set a cap on BRETT transactions, requiring 200 deposit confirmations. This increased number of confirmations may indicate a more cautious approach to meme coins, perhaps due to the volatile nature of such tokens.

Listing on Bithumb, one of the largest cryptocurrency exchanges in the highly active South Korean market, is a significant milestone for both BRETT and TAIKO. The move is expected to significantly boost their visibility and trading volume. Increased exposure on a major platform like Bithumb not only boosts the liquidity of these tokens, but also attracts a new pool of investors, which could contribute to their upward price momentum.

Furthermore, listing on a reputable exchange like Bithumb could be seen as a form of validation for these projects, especially for TAIKO, given its association with Ethereum co-founder Vitalik Buterin. This could increase confidence among investors and potentially pave the way for listings on other major exchanges in the future.

Read also: DigitalX prepares to list spot Bitcoin ETF on Australia’s ASX as demand soars

Current Market Performance and Future Prospects

According to the latest data, BRETT is trading at $0.1239, with a 24-hour trading volume of $83.9 million and a price increase of 7.41% over the past day. Its market cap is $1.2 billion, based on a circulating supply of 9.9 billion BRETT.

Taiko (TAIKO) is priced at $2.28, with a 24-hour trading volume of $57.1M and a price increase of 10.92% in the last 24 hours. Its market cap is $144.6M, with a circulating supply of 63M TAIKO.

The significant price action following Bithumb’s listing announcement points to a positive reception from the market and suggests potential for further growth. As BRETT and TAIKO continue to gain momentum, their listing on a prominent exchange like Bithumb is expected to boost investor confidence and encourage broader market adoption.

Read also: SOL price surges 6% after Cboe files for Spot Solana ETF

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