Bithumb Introduces Pump.fun (PUMP) to KRW Market: Trading Begins Tonight

Bithumb, a leading cryptocurrency exchange in South Korea, has officially announced the listing of Pump.fun (PUMP), a meme-coin platform built on the Solana (SOL) blockchain, in its won (KRW) trading market. The trading is set to commence tonight at 9 p.m. local time, marking a significant development for the growing Solana ecosystem and meme coin enthusiasts.

What Is Pump.fun (PUMP)?

Pump.fun is a decentralized platform designed to help users easily create and trade tokens within minutes. It has become a standout player in the Solana blockchain ecosystem by fueling the popularity of meme coins and offering a simple, efficient way for users to participate in the token economy. As the platform continues to gain traction, its inclusion in Bithumb’s KRW market signals increasing recognition in the broader cryptocurrency space.

Key Details About the PUMP Listing

Bithumb issued its notice regarding PUMP’s trading debut today at 6:49 p.m. local time. Here are the essential details:

• Blockchain Compatibility: Deposits and withdrawals of PUMP will be supported exclusively via the Solana blockchain. Users are cautioned against attempting deposits on other networks, as these will not be supported.
• Trading Schedule and Initial Reference Price: Trading for PUMP in the KRW market begins at 9 p.m. local time, with an initial reference price set at 7.812 KRW per token.
• Ticker Symbol Update: To prevent confusion with another asset named PUMP currently traded in the BTC market, Bithumb has promptly renamed that token’s ticker to ‘PUMPBTC.’ This change has been implemented immediately.

Investor Protection Measures for Early Trading Activity

Recognizing that new cryptocurrency listings often experience heightened volatility, Bithumb has enacted a series of measures to protect investors during PUMP’s initial trading period:

• Restricted Buy Orders: For the first five minutes after trading begins, buy orders will be restricted. Meanwhile, sell orders will be limited to a price range of -10% to +100% of the initial reference price.
• Prohibition of Market Orders: For approximately two hours post-launch, Bithumb will only accept limit orders, effectively preventing market orders to ensure greater price stability and mitigate erratic market fluctuations.

Significance of the Listing

The addition of Pump.fun (PUMP) to Bithumb's KRW market represents an important milestone for meme-coin platforms leveraging the Solana blockchain. With its fast transaction speeds, scalability, and lower fees compared to Ethereum-based alternatives, Solana has emerged as a robust infrastructure for decentralized applications and niche projects like Pump.fun.

Furthermore, Bithumb’s decision to rename the BTC-market version of PUMP underlines its commitment to providing clarity for its users and reducing potential confusion. These efforts are likely to enhance user confidence and streamline trading operations across the platform.

Conclusion

Pump.fun’s listing in the KRW trading market underscores the rising influence of meme coins within the cryptocurrency sphere, particularly those operating on efficient and scalable blockchains like Solana. Bithumb’s proactive investment protection measures and clear communication strategies reflect its dedication to fostering a secure environment for users engaging with new digital assets.

Trading for PUMP begins at 9 p.m. tonight—an exciting moment for traders eager to explore this innovative meme-coin platform. For updates on this listing and other crypto-related news, stay connected through Block Media’s Telegram channel or follow coverage on Google News.