Bithumb, the second largest exchange in South Korea, launched HYPER/KRW trading at 8:00 AM UTC on July 10. This has led to:
- Removing any friction for Korean traders (without USDT intermediary).
- Achieving a trading volume of $492 million within 24 hours (an increase of 1,548% compared to the previous day) with retail flows entering.
- Following Binance's listing in April 2025, which enhanced the credibility of the HYPER platform.
Cryptocurrency premiums in South Korea often add between 5% and 10% to token valuations (CoinDesk), with HYPER's KRW pair representing about 40% of its global trading volume post-listing.
2. Technical context: Confirmation of breakout
The 7-day Relative Strength Index (RSI7) reached 70.73 (overbought threshold: 70), indicating strong short-term demand.
It surpassed the 61.8% Fibonacci retracement level ($0.108) from the June high of $0.142 to the low of $0.087.
The MACD indicator turned positive (+0.00308) for the first time in 7 days, confirming the upward momentum.
Traders are now watching the $0.434 level - a 127.2% Fibonacci extension - as the next resistance level.
