TrueChain (TRUE), Arcblock (ABT) Jump on Upcoming Bithumb Listing

The South Korean exchange will add both coins next week, with its statement triggering a significant increase in TRUE and ABT prices on Friday morning.

TrueChain (TRUE) and Arcblock (ABT) leaped around 35% and nearly 50%, respectively, on a daily basis on Friday morning UTC after Bithumb, one of the leading crypto exchanges, said in a blog post it would list both coins next week. The South Korea-based operator published its announcement at 00:50 UTC on Friday, which immediately provided a major boost to TRUE and ABT prices.

TrueChain, the native coin behind a blockchain platform for building decentralized applications (dApps), was changing hands at $0.48 at 00:44 but jumped to $0.61 around 15 minutes after the Bithumb announcement. Seven hours later, the asset was trading at $0.59, making for an increase of 34.83% on a daily basis.

TRUE currently ranks at number 154 in the market capitalization list with nearly $27.8 million in value. It clocked about $70 million in trading volume over the last 24 hours, with OKEx trading pairs with Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) accounting for $54.5 million of it. OEX TRUE markets with BTC and Chinese yuan contributed $15.2 million.

Bithumb’s announcement also triggered a significant price rise for Arcblock, another native coin in a dApps blockchain project. ABT was trading at $0.22 at 00:49 UTC on Friday but jumped to $0.29 around half an hour after South Korean exchange published its post. At 08:13 UTC, the coin was priced at $0.28, translating into a daily increase of 49.37%.

Arcblock sits at number 161 by value with a $26.3 million market cap. Its trading volume in the past day was $34.9 million, of which $23 million came from Lbank markets with BTC and ETH.

TrueChain and Arcblock on Bithumb

The exchange will offer one trading pair for both TRUE and ABT, the other half being Korea’s national fiat currency, the won. Bithumb will open buying and selling services on September 12 at 15:00 UTC, with deposits to be available at the same time on September 8.

Bithumb is one of the largest cryptocurrency exchanges, its volume in the last 24 hours reaching $464 million. After the hack attack it experienced in June, the platform has partially resumed deposit and withdrawal services for the coins listed during the security breach.