Bitcoin Diamond (BCD) Price Jumps on Bithumb Listing

[Magician]

Bitcoin Diamond (BCD), one of the top fifty cryptocurrencies by market capitalization, leaped nearly 5% on a daily basis on Wednesday morning UTC as one of the leading virtual asset markets, Bithumb, added the asset to its trading roster.

The South Korean exchange opened trading services, deposits and withdrawals at 05:00 UTC Wednesday. The platform supports one trading pair for BCD, with the country’s fiat currency, the won.

However, Bithumb’s listing process has been impacting Bitcoin Diamond price for nearly a day. The exchange published its BCD statement at around 12:30 UTC on Tuesday, prompting an immediate price jump for Bitcoin Diamond. BCD rose from $1.87 to $2.16 per coin in less than ten minutes after the Bithumb announcement. That price has not been seen since early September.

Twenty hours later, the coin had sustained the positive market trend, changing hands at $1.94, which was a 4.80% increase compared to the prior day.

Bitcoin Diamond clocked $25.7 million in trading volume for the 24 hours to 10:48 UTC on Wednesday. Binance markets with Bitcoin (BTC), and Ethereum (ETH) accounted for more than 57% of it, or $14.7 million, followed by $6.1 million (nearly 24%) in trading from BCD pairs with Tether (USDT) on Gate.io. Bitcoin Diamond currently ranks number 32 in the market capitalization list with $298.7 million in value.

KNC deposit and withdrawal resumption

Separately, from the BCD move, Bithumb announced on Wednesday that it would open again Kyber Network (KNC) deposits and withdrawals. The exchange will allow those services for KNC on Thursday as the coin price has been stabilized.

The Bithumb move also affected Kyber Network market performance as the virtual asset leaped 7.82% on a daily basis as at the time of writing. The exchange was the second largest KNC market with 22.45% of the cryptocurrency trading volume, or $890,502 of $2.8 million in total for the previous day. Binance BTC and ETH pairs accounted for more than 33% of KNC trading, according to Coinmarketcap data.             

Bithumb, which suffered a hack attack in June, has begun the process of deposit and withdrawal resumption for the assets listed before the incident by following the 10% rule.

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