XRP Tests Key Support, Dogecoin Exits Bithumb, and Bitcoin Targets $80K Startup Fortune
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- Katana (KAT) gains momentum from Upbit and Bithumb listings with KRW pairs.
- Katana Perps launch adds derivatives and deeper market utility.
- Traders should watch the support at $0.014 and the immediate resistance at $0.016.
Katana (KAT), the native token of the Katana Network, has seen an extraordinary 53% price surge today, largely fueled by major cryptocurrency exchange listings.
Upbit and Bithumb, two of South Korea’s largest cryptocurrency exchanges, have added KAT, opening up direct KRW trading pairs for the token.
These listings have given Katana greater visibility in a market known for active retail participation.
South Korean investors often respond quickly to new token listings, and the addition of KRW trading pairs makes it easy for traders to engage with KAT.
This kind of exposure can amplify buying pressure and lead to sharp price moves, especially when combined with already strong market momentum.
The recent surge has also coincided with extremely high trading volumes.
KAT’s daily turnover has been several times its earlier average, signalling strong interest from traders and speculators.
Sustained volume is crucial for maintaining momentum. If volume remains high, KAT is likely to continue testing local highs.
Conversely, a sudden drop in trading activity could lead to sharp pullbacks.
Adding to the bullish narrative, Katana recently acquired IDEX to launch a native perpetual futures platform called Katana Perps.
By integrating derivatives trading directly into the ecosystem, Katana can capture more trading activity within its own network.
This move also brings professional liquidity providers and market makers into the token’s orbit, creating a more stable and deeper market.
Technical outlook
Overall, KAT is in a high-momentum phase driven by both exchange listings and real product development.
From a technical analysis perspective, KAT is currently hovering near its recent local high, and the immediate support level to watch is $0.014.
Holding above this level would suggest that bullish momentum remains intact and could pave the way for a retest of the local high around $0.016.
But if this support fails, traders should anticipate a move toward the next key support near $0.012.
Volume remains a crucial indicator in this environment.
Sustained daily volume above $100 million would confirm strong trader interest and reduce the likelihood of a sudden correction.
On the other hand, if volume drops below $50 million, it could signal that momentum is fading and that a pullback may be imminent.
The combination of exchange listings, high trading volumes, and a new derivatives platform provides KAT with both momentum and structural growth potential.
However, traders should be aware that these factors create opportunities but also increase the risk of sharp swings if interest wanes.
Dogecoin Price Prediction Fades as Bithumb Faces $43B Glitch While Pepeto Takes the Lead Over DOGE and Hyperliquid mexc.co
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- Legal injunction halts South Korean delistings of FLOW cryptocurrency.
- Altcoin rotation supports FLOW’s surge, outperforming broader crypto markets.
- Momentum indicators show FLOW in the overbought region, hinting at a possible pullback.
FLOW, the native token of the Flow blockchain, has seen a dramatic surge today, climbing over 53% in just 24 hours.
The jump comes despite recent announcements that major South Korean exchanges, including Upbit and Bithumb, planned to delist the token.
At first glance, delisting news might seem like a bearish trigger, but in FLOW’s case, the market response has been the opposite.
Here’s why the FLOW price is rising
The primary reason behind the surge is a legal move to suspend the delistings.
The Flow Foundation filed an injunction with the Seoul Central District Court to halt the planned March 16 delistings.
This move has reassured investors that the token will remain accessible on major South Korean platforms, removing a significant risk that had weighed on FLOW’s price for months.
In addition, Binance recently removed its monitoring tag for FLOW, signalling that previous technical issues have been resolved.
Together, these developments have alleviated fears about liquidity and safety, prompting a rush of capital back into the token.
Trading volumes have also spiked dramatically, indicating that both domestic and international traders are jumping in on the momentum.
Altcoin rotation strengthens the bullish momentum
Beyond the legal developments, FLOW’s rally has also benefited from a broader market trend.
Capital is currently rotating into altcoins, with investors seeking opportunities outside Bitcoin (BTC) and Ethereum (ETH).
This environment has amplified FLOW’s gains, as traders are looking for tokens with high growth potential and positive news catalysts.
FLOW’s performance today illustrates how market psychology and sector-wide trends can interact.
Even though BTC and the broader market have seen modest gains, FLOW’s price movement is clearly outpacing them due to its specific news-driven momentum.
This demonstrates how individual altcoins can decouple from broader market trends when there is a strong, token-specific catalyst.
FLOW price forecast
The pending court decision will remain the primary catalyst, as a favourable ruling could sustain momentum, while a rejection could trigger a swift correction.
Looking ahead, the immediate support is around $0.0481, which has acted as a pivot during the surge.
Holding above this level suggests that buyers remain in control and that the rally could continue toward the $0.07 area.
However, FLOW is currently in overbought territory, with momentum indicators like the RSI suggesting that a short-term pullback is possible.
If the price falls below the pivot, the token could retrace toward the 50-day moving average near $0.04743.
On Friday, the price of Bitcoin on the South Korean exchange Bithumb crashed by approximately 10% of global markets. This happened after an airdrop error in which Bithumb distributed 620,000 Bitcoin to 695 users who were winners of a promotion. The crypto exchange has already promised to reimburse customers who suffered losses from the crash,
The post $40B Bitcoin Airdrop Error: Bithumb to Reimburse Customer Losses After BTC Crash To $55k appeared first on CoinGape.
]]>Dogecoin and XRP Beat Bitcoin in Daily Trading Volumes on Upbit, Bithumb Coinspeaker
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In tandem with the IPO preparations, Bithumb has initiated efforts to improve its corporate structure.
Bithumb, one of South Korea’s leading crypto exchanges, is reportedly gearing up for a groundbreaking Initial Public Offering (IPO) on the KOSDAQ, South Korea’s equivalent of the Nasdaq Composite (INDEXNASDAQ: .IXIC).
Bithumb IPO: An Ambitious Move
A recent report from local news outlet Edaily indicates that Bithumb is setting its sights on becoming the first digital asset company to go public on the South Korean stock market, with the anticipated listing date slated for the second half of 2025.
While Bithumb has yet to officially confirm its IPO plans, sources have revealed that the exchange has taken significant steps in that direction. Bithumb has reportedly chosen Samsung Securities as its potential IPO underwriter, a crucial role in ensuring the financial stability of a company before it goes public. However, there is openness to considering the KOSPI market as an alternative, highlighting the flexibility in Bithumb’s strategic approach.
The decision to go public is largely seen as a response to the intense competition with Upbit, which currently dominates the South Korean crypto exchange market with an 85% market share. Bithumb, currently the second-largest exchange by daily trading volume, is determined to regain its leadership position.
The move comes as Upbit’s monthly trading volumes surpassed those of global giants Coinbase Global Inc (NASDAQ: COIN) and Binance, highlighting the growing influence of South Korean exchanges in the global crypto market. The company aims to bolster market trust in its exchange operations by undergoing external verification of its internal control system and demonstrating a commitment to governance and management transparency.
Founded in 2014, Bithumb has evolved into a major player in the crypto industry, boasting a 24-hour trading volume of approximately $600 million at the time of writing, according to data from CoinGecko.
Bithumb’s Challenges and Legal Scrutiny
Bithumb’s journey to an IPO has not been without challenges. Both Bithumb and Upbit faced regulatory scrutiny in May when South Korean authorities raided their offices over allegations of fraudulent crypto trading on behalf of a local lawmaker.
In February, one of Bithumb’s largest shareholders, Kang Jong-hyun, was arrested on embezzlement charges. In addition to Jong-Hyun, South Korean authorities have requested the arrest of two other Bithumb executives, including his younger sister Kang Ji-Yeon, adding another layer of complexity to the company’s legal landscape.
However, in tandem with the IPO preparations, Bithumb has initiated efforts to improve its corporate structure. Former Chairman Lee Jung-hoon, the largest shareholder, has established Bithumb Holdings, serving as a holding company.
Lee, a key figure in Bithumb’s history, has returned to the board of directors, signaling a commitment to strengthen responsible management. The reshuffling of leadership roles, including the exclusion of CEO Lee Sang-jun, suspected of soliciting coin listings, underscores Bithumb’s dedication to internal consolidation and governance reform.
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Bithumb Adds Shiba Inu To Trade Against Korean Won TronWeekly
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The Hong Kong subsidiaries of South Korea’s largest exchange Bithumb are facing a lawsuit for breach of contract and top executives including the owner of the exchange have been indicted for committing fraud. The top executives face criminal charges for fraud worth 100 billion won.
The lawsuit will be filed by the exchange’s former Thai partner who had filed a separate lawsuit in South Korea last year. The former partner would file a civil lawsuit against two subsidiaries ― Bithumb Global Holdings (BGH) and GBEX after discovering Bithumb is planning to open an exchange in Thailand again.
Bithumb first announced its plans of opening subsidiaries in Japan and Thailand back in 2017 but by 2018 Thai partners realized that the executives were only making empty promises to sell the token called BXA issued by BK Group Chairman Kim Byung-gun who promised the token will be listed on Bithumb soon. He also tried overtaking Bithumb in 2018 but failed and so did his plans to list the group’s token.
The Thai partner said,
“After Bithumb stopped its BXA coin business, its Thai operation became unnecessary, so the company ended its business in Thailand unilaterally, causing serious damage to us,”
“BGH and GBEX collectively own a 49-percent stake in the joint venture in Thailand, and are wholly-owned subsidiaries of Bithumb Korea, so we sued Bithumb Korea’s executives last year and decided recently to file lawsuits in Hong Kong against the Hong Kong subsidiaries and their executives, who are related to this issue more directly.”
After collecting a significant downpayment on the BXA token, the failure to list it on Bithumb incurred heavy losses for the investors.
What led to a Lawsuit in Hong Kong?
The Thai partners revealed that the decision to file a lawsuit in Hong Kong arose after seeing no actions against the culprits in South Korea, and the lawsuit is still pending in Suseo Police Station in Seoul for nine months.
The group also plans to file a lawsuit in Japan against Bithumb in near future.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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