IOST (IOST), Polymath (POLY) Spike on Bithumb Listing

The exchange listing triggered price increases for IOST and POLY on Thursday morning UTC.

IOST (IOST) and Polymath (POLY), the native cryptos inside two blockchain-driven platforms, leaped 15% and 28%, respectively, on a daily basis this morning UTC as Bithumb, one of the largest virtual coin markets, added the assets to its trading roster.

The South Korean exchange opened IOST and POLY buying and selling services at 08:30 UTC. The platform supports one market for each of the coins - with local fiat currency, the won.

IOST and Polymath began their ascent at 00:30 UTC on Thursday, when Bithumb published the listing announcement. It triggered a 25% price increase for both assets for around two hours. IOST continued its positive trend through the early hours of Thursday and changed hands at $0.005 at 08:41, which was a 15.15% increase on a daily basis. The project clocked $20.3 million in trading volume in the last day. Binance has emerged as the largest IOST market because the exchange pairs with Bitcoin (BTC) and Ethereum (ETH) accounted for 27.30%, or $5.6 million, of the asset volume. Huobi’s Tether (USDT), BTC, ETH, and Huobi Token (HT) markets clocked $4.9 million, or 23.8% of the IOST volume.

Bithumb support also impacted Polymath’s market performance, with the coin trending up through Thursday morning. Two hours after the exchange’s listing, POLY was up 28.3% on a daily basis and changed hands at $0.16. The asset achieved $18.8 million in trading volume for the 24 hours to 08:41 UTC, Upbit pairs with the Korean won and Bitcoin accounting for nearly 60% of it, or $11.3 million. The second place went to Binance, whose BTC and Binance Coin (BNB) markets recorded $3.9 million in trading volume, or 21% of the Polymath total.        

IOST, which is a coin inside a project for decentralized applications (dApps), currently sits at number 61 on the cryptocurrency market capitalization list with $64 million in value, while POLY, the payment vehicle for a securities tokenization platform, ranks 76th  with a $46.8 million market cap.

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