Bithumb Lists Binance-Backed Altcoin XAI: Price Surges!

Bithumb, the second-largest cryptocurrency exchange in South Korea, will list XAI (XAI), an altcoin that was launched as a Binance Launchpool project.

The listing comes as Bitcoin (BTC) and Ethereum (ETH) trading volumes continue to lag behind altcoin volumes in South Korea.

According to an announcement on Bithumb’s official website on June 5, XAI will be listed at 12:00 PM KST today.

The exchange said that XAI deposit transactions will only be open for the Arbitrum network. Bithumb also warned that transfers from other networks should not be made.

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XAI will be traded in a KRW (South Korean Won) pair. After the listing, investors will be able to buy and sell XAI in the XAI/KRW trading pair.

According to CoinGecko data, XAI rose 11% to $0.963 from $0.868 on the Bithumb listing announcement. XAI is currently trading at $0.936, with a slight correction.

The listing is expected to boost XAI trading volume and liquidity. It could also lead to increased interest in the project from South Korean investors.

XAI is a stablecoin that is pegged to a basket of assets, including gold, silver, and the US dollar. It is designed to provide a more stable alternative to other cryptocurrencies.

The Binance Launchpool project was launched in May 2023. It allowed users to stake BNB (Binance Coin) to earn XAI tokens.

The project was a success, and it helped to raise awareness of XAI. The listing on Bithumb is another major milestone for the project.