Bithumb has announced the listing of the Trump meme coin ($TRUMP) on its platform.
The Solana-based token will become available for trading on January 21, 2025, at 19:00 KST, following a wave of demand in the crypto market.
The meme coin will launch on Bithumb at a base price of 53,350 won (about $37) for Korean traders. Deposits and withdrawals for $TRUMP began right after the announcement, and there have already been 20 deposit confirmations recorded on the platform.
Bithumb’s listing marks the first time the Trump meme coin is available on a South Korean crypto exchange. It is available on major global platforms, including Binance, Coinbase, and Robinhood. Bithumb will implement restrictions during the first five minutes of trading to manage trading activity. Orders below 10% or above 100% of the standard price will be blocked, and automatic orders will only activate after the first transaction.
Despite its initial market success, the Trump meme coin has faced volatility. Within 24 hours, its value has dropped over 30%, currently trading at $39.63. The token saw a meteoric rise after its launch, achieving a market cap exceeding $10 billion in hours, though it has since declined to $7.8 billion, ranking 28th by market cap. The token’s trading volume remains robust, surpassing $19 billion in the past day, with its price fluctuating between $31.58 and $58.55, according to data from CoinMarketCap.
Meanwhile, Bithumb recently switched its banking partnership from NH NongHyup Bank to KB Kookmin Bank for deposit and withdrawal services, following South Korea’s Financial Intelligence Unit (FIU) approval. Users can link Kookmin Bank accounts using detailed instructions provided by Bithumb. CEO Lee Jae-won thanked NongHyup Bank for their partnership and assured users of a smooth transition, including corporate account availability. South Korean law mandates that cryptocurrency exchanges partner with only one bank for transactions in Korean won.
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