Bithumb, one of the leading crypto exchanges of South Korea, will add Ethena to his Korean market today.
According to Bithumb’s official announcementTrading for Ethena (ENA) starts at 6:00 PM KST on Tuesday 25 February 2025. Deposits and recordings will be opened within three hours after the notification, but only on the Ethereum network.
Ethena will have an initial prize of 536 KRW and traders will have to wait for 33 deposit facilities before transactions can be processed.
Bithumb also has drawn up some temporary limitations for the launch. Buyers cannot place orders in the first five minutes of the trading, and sales orders will be limited during this period to a range of -10% to +100% of the basic price. Automated trade is only available after the first transaction has been completed.
Last year, Ena obtained a list on another large South Korean Crypto exchange, Bybit, on 2 April 2024, where it can be traded against USDT.
Lists on large crypto fairs such as Bybit and Bithumb tends to cause a sharp rise in the price of related cryptocurrency. However, Ena only saw a modest rebound and recovered part of the losses from the previous day and remained 7.5%in the last 24 hours.
The Gedempte Price Movements of ENA reflected the wider slump on the cryptomarkt, as a bybit -hack of $ 1.4 billion and persistent macro -economic jitters sent to traders for coverage.
Despite the recent decline, analysts bullish remain about the long -term potential of ENA.
Trader Solid, with more than 117k followers on X, noted That if the price of ENA makes a higher layer within the trading range from $ 0.3100 to $ 0.4136, ENA would probably be able to collect by its highest height of $ 1,52 and introduce price discovery.
Colleague trader AlejandrobTC, who was also optimistic about ENA, said it looked like ‘a good buy’ in a similar accumulation. According to the 1-day graph he shared, the Altcoin jumped nearly 300% to $ 1.25 last December within the same accumulation oak from August to November 2024. See below:
However, the next big step from ENA is likely to decrease from broader market conditions that improve.
At the time of the press, Ena exchanged hands at $ 0.3811, with its market capitalization for $ 1.18 billion.