Bithumb to Add LISTA DAO and Merlin Chain to Its KRW Market

Bithumb, a leading cryptocurrency exchange based in South Korea, revealed on October 24th that it will introduce LISTA DAO (LISTA) and Merlin Chain (MERL) for trading in its Korean won (KRW) market.

Trading Launch Schedule

Trading for the two assets will roll out on the same day at separate intervals. LISTA DAO trading is scheduled to begin at 4:00 p.m. (local time), followed by Merlin Chain trading at 6:00 p.m. Furthermore, Bithumb disclosed that deposits and withdrawals for both LISTA and MERL will go live approximately three hours after the initial announcement time (11:56 a.m.), enabling users to prepare for trading.

Key Details About the Listings

Here’s a closer look at the major highlights and trading specifics for the new assets:

LISTA DAO (LISTA)

• Initial Trading Price: KRW 354
• Deposit Network Support: Deposits will be supported only through the Binance Smart Chain (BNB) network. Deposits via other networks will not be supported, and Bithumb has advised users to take special note of this restriction.

Merlin Chain (MERL)

• Reference Price: KRW 161
• Deposit/Withdrawal Network: Deposits and withdrawals will exclusively operate on MERL’s native mainnet.

Bithumb aims to provide a secure, efficient onboarding process by clarifying these technical requirements in advance.

Trading Restrictions During Initial Phase

To ensure smooth trading and mitigate potential market volatility, temporary trading restrictions will be applied for both assets during their first five minutes of launch:

1. Buy Orders Restriction: Buy orders will be temporarily prohibited during this period.
2. Sell Orders Limitation: Sell orders will be confined to within a range of -10% to +100% based on the respective reference prices of LISTA or MERL.

These measures are designed to stabilize the trading environment, especially for newly listed assets that often experience significant price fluctuations early on.

Investor Advisory: Risk and Due Diligence

Bithumb highlighted the inherent risks associated with cryptocurrency investments, particularly in light of the volatile and speculative nature of digital assets. Investors are advised to remain cautious and perform in-depth research. The exchange stresses the importance of reviewing each project's official website and whitepaper for informed decision-making.

“Cryptocurrency trading involves significant risks, including possible partial or total loss of capital. Please exercise caution and trade prudently,” Bithumb warned in its announcement.

Expanding the Asset Portfolio Amid Safety Measures

By listing new assets like LISTA DAO and Merlin Chain, Bithumb is taking measured steps to expand its cryptocurrency offerings while prioritizing investor safety. The exchange continues to balance its role in driving market innovation with the need to protect users from undue risks in a highly dynamic market environment.

This dual approach positions Bithumb as a pivotal player in South Korea's crypto industry as it seeks to meet growing market demand while maintaining high standards of transparency and security.