TL;DR
Triple-digit price gains within 24 hours are nothing unusual in the world of crypto. The lesser-known altcoin Hyperlane (HYPER) proved that narrative, skyrocketing roughly 170% within that timeframe to almost match its all-time high of $0.35. Its market capitalization, which stood at around $20 million yesterday (July 9), has surged past $55 million.
The main reason propelling the impressive rally is the support coming from South Korea’s leading cryptocurrency exchange, Upbit, which listed the HYPER/KRW trading pair. Such a development enhances the token’s liquidity and accessibility while also providing a significant reputational boost.
However, some industry participants (like the X user Tux) claimed some projects use these listings “to dump their tokens on the head of Koreans.”
https://twitter.com/megastuffs/status/1943250566039376026?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank
Others remain optimistic that HYPER’s bull run is nowhere near its end. X user Crypto GVR recently suggested the price could soar to a new peak of $0.50 in the next three to six months.
Meanwhile, Bithumb (South Korea’s second-biggest crypto exchange) also embraced the asset, introducing the same trading pair as its rival.
Earlier this month, the hippo-themed meme coin Moo Deng (MOODENG) pumped by over 40% daily after the exchange listed the MOODENG/USDT, MOODENG/KRW, and MOODENG/BTC pairs.
In June, Ravencoin (RVN) briefly made the headlines after jumping by 75% in a single day. Once again, the factor fueling the rally was the backing from Upbit.
The company has also contributed to a price spike for TRUMP, the meme coin associated with the American president. This happened in February when it enabled user access to the TRUMP/KRW, TRUMP/BTC, and TRUMP/USDT pairs.
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