South Korea’s crypto heavyweights just stirred the pot. In a near-synchronized move that caught traders off guard, Upbit and Bithumb rolled out new listings today: Raydium (RAY), HUMA, and FORT. Three tokens, two exchanges, one very clear message, attention, and liquidity are back on the menu, even in a jittery market. Let’s break down what actually happened.
Raydium gets a second wind
Upbit’s decision to list Raydium (RAY) at noon KST landed right when the project needed it most. Raydium, Solana’s flagship DEX and AMM, has had a rough month. The token is down 27.3% over the last 30 days, and its market cap has been cut nearly in half, sliding from over $1 billion to around $500 million. Network congestion on Solana and broader bearish sentiment did not help.
Still, a Korean exchange listing has a way of changing the mood fast. As soon as the announcement dropped, RAY jumped 18% ahead of the listing, with local traders chasing the familiar kimchi premium momentum. Whether this marks a true turnaround or just a relief rally remains to be seen, but for now, Raydium is breathing again.
Bithumb fires back with HUMA and FORT
Bithumb was not about to sit quietly. The exchange answered with a double listing of HUMA and FORT on its KRW market, pulling attention in two very different directions.
HUMA, an AI-powered lending protocol, grabbed headlines first. The token surged about 12% before the listing, then cooled off to around $0.037. Traders were quick to label it a classic buy-the-rumor move: fast money in, fast money out.
FORT took a calmer route. The gaming infrastructure token avoided the sharp swings that followed HUMA and traded with relative stability. Not flashy, but steady, which some traders quietly prefer.
Both tokens now gain access to Bithumb’s roughly $1.2 billion in daily trading volume, a serious boost in visibility and retail flow. In a market starved for clear narratives, that kind of exposure can make all the difference, at least in the short term.
Why this trio matters
Upbit and Bithumb’s strategy of listing new tokens isn’t random. It’s a calculated bid to dominate Asia’s altcoin flow as U.S. exchanges grapple with regulatory headwinds. For RAY, it’s a shot at revival; for HUMA/FORT, it’s mainstream validation. Market impact? Immediate. SOL rallied 5% on RAY’s news, while Korean exchange tokens (like Bithumb’s BXA) jumped 3%. But risks loom: RAY’s tech must now deliver smoother AMM executions, or the “Upbit bump” could fade fast.
The big picture
Today’s listings spotlight a crypto truth: exchange support trumps bear markets. With Upbit and Bithumb listing new tokens, they’re not just adding assets—they’re anointing contenders. For traders, it’s a high-stakes game. Ride the Korean wave, but watch for pullbacks like HUMA’s. For RAY? This is D-Day. Fail, and Solana’s DeFi cred takes a hit. Win, and the bull run resumes.
