In a move likely to boost Blast's adoption in South Korea, leading cryptocurrency exchange Bithumb announced the addition of BLAST to its Korean Won (KRW) market. This allows users to directly purchase BLAST using Korean Won, potentially increasing liquidity and accessibility for the token.
What is Blast (BLAST)?
Blast is an Ethereum Virtual Machine (EVM) compatible Layer 2 project that utilizes optimistic rollups for scalability. By implementing local throughput, Blast enables revenue generation within its network without requiring additional resources like token wrapping. The project also actively supports the development of dApps in its ecosystem, fostering innovation and reducing reliance on transaction fees. BLAST serves as the utility token of the Blast network, used for user incentives and various other functionalities.
Trading Restrictions and Potential Impact
Bithumb has implemented a buy restriction for the first five minutes of BLAST trading, likely to curb potential manipulation during the initial listing phase. This measured approach could lead to a more stable price discovery process for BLAST on the KRW market.
The addition of BLAST to Bithumb, a major South Korean exchange, is a significant development for the project. Increased exposure in the Korean market, known for its active cryptocurrency trading scene, could boost BLAST's adoption and user base. With easier access through KRW trading, Blast may attract new investors and developers to its growing ecosystem.
June 2024, Cryptoniteuae