Bithumb has listed Ethena (ENA) on its KRW market, with trading starting at 6:00 PM KST on February 25, 2025.
Deposits and withdrawals for ENA will be available within three hours of the announcement. ENA will only be supported on the Ethereum network, and the base price is set at 536 won, requiring 33 deposit confirmations for transactions.
The platform has launched an airdrop event to incentivise early trading, rewarding users who trade ENA for two consecutive days. Further details on the promotion are available through the exchange’s official channels.
Ethena operates as an Ethereum-based synthetic dollar protocol that facilitates the minting of USDe, a stable digital asset. Users provide collateral that is shorted to establish a delta-neutral portfolio, ensuring price stability. The protocol’s governance and staking are managed through its utility token, ENA.
For market stability, Bithumb has imposed trading restrictions during the initial launch. Buying orders will be restricted for the first five minutes after trading begins while selling will be limited to a price range between -10% and +100% of the base price within the same period. Automated orders will only be permitted after the first successful transaction.
Additionally, Bithumb has implemented compliance measures for deposits and withdrawals, requiring transactions to be conducted through approved virtual asset exchanges. Deposits from non-supported platforms will not be credited, and returns may be delayed. Users are advised to verify deposit addresses and network compatibility before initiating transactions.
Meanwhile, Bithumb announced the suspension of KAVA trading, deposits, and withdrawals at 6:00 PM KST on February 25 due to a scheduled Kava Network upgrade at block height 13,500,000. This precautionary measure ensures asset safety, and trading will resume once stability is confirmed. KAVA was valued at 409.8 won, down 5.07% in the past 24 hours. The exchange has not provided a timeline for resumption, and users are advised to monitor updates.
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