Altcoin Skyrockets 170% After Gaining Backing from Crypto Exchanges Upbit and Bithumb: A Closer Look

The obscure altcoin Hyperlane (HYPER) experienced a dramatic increase of roughly 170% within 24 hours, nearly reaching its all-time high of $0.35. This surge, which pushed the altcoin's market cap from $20 million to over $55 million, is largely attributed to support from South Korea's leading cryptocurrency exchanges, Upbit and Bithumb. Both exchanges listed the HYPER/KRW trading pair, enhancing the token's liquidity and reputation.

Despite controversy over such listings being used to manipulate markets, predictions remain positive for HYPER's continuing upward trajectory. In the past, Upbit's listings have triggered significant price hikes for other tokens such as MOODENG, RVN, and TRUMP, indicating a pattern of influence that may continue to benefit HYPER.