Aethir Listing on 2 Global Exchanges, ATH Token Price Jumps 35%!

Bittime - Aethir token (ATH) shot up sharply by 35%. This happened after two giant South Korean exchanges, Upbit and Bithumb, announced they would list these crypto assets.

ATH, which is known as one of the backbones of the decentralized physical infrastructure network (DePin), is now increasingly establishing itself in the global market. Since it started trading on both exchanges at 06:00 UTC, ATH immediately became the center of attention. 

Investors seem eager to welcome its presence, as evidenced by the significant price jump.

ATH Listing on Upbit and Bithumb

Upbit and Bithumb, two major players in the South Korean crypto market, now offer ATH trading pairs with the South Korean Won (KRW). In fact, Upbit also provides ATH trading pairs with Bitcoin (BTC). 

To celebrate this listing, both exchanges are providing bonuses in the form of waiving withdrawal fees for the first 24 hours.

Read also: Aethir Launches $50 Million Reward Bonus Program for the Community

However, to ensure the market remains stable, the two exchanges also implement a number of rules. One of them is a temporary suspension of buy orders for five minutes after trading begins. 

In addition, to prevent drastic price drops, sell orders at a price 10% below the previous closing price are also limited.

As part of their commitment to regulations, both exchanges ensure that all ATH transactions can only be carried out through verified private wallets. 

This is in accordance with the strict Travel Rules that apply in South Korea. It is important to remember, ATH refilling can only be done via the Ethereum network.

“Make sure to check the network before making a digital asset deposit. "Deposits and withdrawals via networks other than those specified are not supported," Upbit emphasized.

Aethir (ATH) Price Rises Immediately After Listing

Sumber: Coinchapter

After the listing announcement, the ATH price jumped to $0.087 (Rp. 1,366) before correcting slightly to $0.072 (Rp. 1,123). This is something that usually happens to crypto assets that have just been listed. 

Historically, since mid-June, the ATH price has moved in the range of $0.057 (Rp. 892) to $0.087 (Rp. 1,366). If it succeeds in breaking the resistance level of $0.087 (Rp. 1,366), ATH has the potential to head towards the previous record high of $0.146 (Rp. 2,282).

However, if it fails to break through this level, the ATH price is likely to continue consolidating.

One of the factors driving ATH's performance is its dominance in the decentralized GPU sector. According to Aylo, a crypto researcher, Aethir is currently the market leader in this sector. 

“This is a very competitive category, but if we look at Aethir's numbers, it's clear they are the most profitable DePin GPUs on the market,” Aylo said.

Aethir's financial report for July showed revenue of $36 million (Rp. 561.6 billion) in the past year, with steady growth of 10% month-on-month. This growth is driven by increasing demand from the AI ​​and gaming industries utilizing Aethir's Platform-as-a-Service (PaaS) services.

Even though he has the upper hand, Aylo reminded that no DePin project has truly proven to be a long-term success. Therefore, investors must remain careful.

Also read: Aethir GPU Network: Record Revenue in Its First Year

Aethir's Open Interest (ATH) Also Soars

Sumber: Coinglass

Since listing on major South Korean exchanges, this token has continued to steal the attention of investors. One indicator of strong market interest in ATH is a drastic spike open interest or the number of open contracts that have not yet been completed.

ATH open interest soars to 332% in a short time, it reached $30 million (Rp. 468 billion). This spike indicates that there is very high market activity and more and more investors are taking positions both buying and selling this token.

Coinglass derivatives data for Aethir (ATH) also showed a very significant spike in trading volume, reaching 4,476%. This means that the ATH transaction value in one day jumped drastically to $294.05 million (Rp. 4.5 trillion). 

This spike in volume indicates very high trading activity, both from long (buy) and short (sell) positions.

The combination of increasing open interest and very high trading volume shows that the ATH market is very dynamic and volatile. Investors interested in ATH must be prepared to face quite large price fluctuations.

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