PIVX (PIVX), INS Ecosystem (INS) Jump on Upcoming Bithumb Support

[Pegasus]

PIVX (PIVX) and INS Ecosystem (INS) leaped more than 14% and 17%, respectively, on a daily basis on Thursday morning UTC as one of the largest virtual currency markets, Bithumb, announced it would add the two assets to its trading roster next week.

The South Korean platform published its press release at around 01:00 UTC on Thursday, prompting an immediate price spike for both PIVX and INS. PIVX, a digital currency focused on privacy and anonymity, rose from $1.26 to $1.47 within ten minutes of the announcement. The coin peaked at $1.62 at 02:29 UTC, which was a level not seen since August, according to Coinmarketcap data. Nearly seven and a half hours later, it had sustained the positive price momentum, changing hands at $1.44, up 14.34% over the last day.

PIVX clocked $13.8 million in trading volume for the 24 hours to 08:50 UTC on Thursday. Upbit markets with Bitcoin (BTC) and Ethereum (ETH) accounted for more than 65% of it, or $9.1 million, followed by $3.3 million (24%) from PIVX pairs with BTC, ETH, and Binance Coin (BNB) on Binance. The coin currently sits at number 74 on the market capitalization list with $81.8 million in value.

Bithumb’s announcement also triggered a significant price move for INS Ecosystem, the native token of a future blockchain-based retail platform. INS traded at $0.46 at 00:59 UTC on Thursday but jumped to nearly $0.59 five minutes after the South Korean exchange announced its support. The cryptocurrency commands $0.54 at the time of writing, which makes for an increase of 17.48% on a daily basis.

INS ranks at number 247 by value with a market cap of $16.4 million. In the last 24 hours, it clocked trading volumes of $5.1 million, of which nearly 88%, or $4.5 million, came from Binance pairs with BTC and ETH. OKEx was the second largest INS market, with Bitcoin, Ethereum, and Tether (USDT) pairs accounting for $502,000 (nearly 10%) of the volume.

PIVX and INS Ecosystem on Bithumb
The platform will support a trading pair with the Korean won for PIVX and INS each. Bithumb will open the services on October 24 at 15:00 UTC, but deposits will be available at the same time on October 20.

Bithumb, which supports more than 50 crypto-to-fiat pairs, launched earlier this week a decentralized Ethereum-based platform.

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