South Korean Exchange Bithumb Boosts PONKE and Raydium Altcoins, Leading to Price Surge

PONKE Altcoin Rallies After Bithumb Support

Amidst the recent announcement of spot trading support for memecoin PONKE (PONKE) and automated market maker (AMM) protocol Raydium (RAY) by South Korean crypto exchange Bithumb, the monkey-themed PONKE has seen a significant increase in value. PONKE has surged over 7% in the last 24 hours, currently trading at $0.77. Over the past month, the memecoin has climbed more than 90% in value, with a market capitalization of $424.4 million, placing it as the 198th largest crypto project.

PONKE also received spot trading support on other notable exchanges like Binance, triggering a remarkable 2,000% rally. Supported by platforms such as Bybit, Kraken, KuCoin, Crypto.com, and Revolut, PONKE has been on an upward trajectory. The recent launch of the decentralized exchange PonkeSwap further reinforces its presence in the decentralized finance (DeFi) space.

Raydium Sees Significant Surge Following Bithumb Support

Raydium, the AMM protocol, has also experienced a surge in value after Bithumb’s announcement. With a price reaching $6.10 on Monday, representing a more than 10% increase from its daily low of $5.52, Raydium has demonstrated impressive growth. Currently trading at $5.66, the altcoin has surged over 141% in the last 30 days, with a market cap of $1.6 billion, making it the 72nd largest crypto project.

According to the project, Raydium offers lightning-fast trades, allows permissionless pool creation, and introduces new features for earning yield. Leveraging the efficiency of the Solana blockchain, Raydium provides faster transactions compared to Ethereum, with significantly lower gas fees.