Bithumb has announced the launch of KRW trading pairs for RED and NIL, triggering sharp price swings for the tokens.
By Parth Dubey
Updated
2 mins read
South Korea’s leading crypto exchange, Bithumb, has officially launched Korean Won (KRW) trading pairs for RedStone (RED) and Nillion (NIL). The new listings, which are set to go live on March 25, triggered opposite price movements for the two tokens.
RED surged by 16% following the announcement, while NIL plummeted by 16%. Both tokens are now directly tradable against the South Korean Won, providing easier access for local traders.
According to Bithumb, RED trading will start at 4:00 PM KST at a base price of 892 KRW ($0.68). On the other hand, NIL is set to begin trading at 7:00 PM KST at 1,044 KRW ($0.75).
Bithumb has implemented safeguards for the token listings to prevent market manipulation and ensure fair trading conditions. During the first five minutes of trading, the exchange prohibited new buy orders in the primary market. It has also capped sell orders within ±10% and ±100% of the base price.
Notably, Bithumb has also clarified that deposits and withdrawals would only be supported through specific networks.
RED is the native utility token of RedStone Oracles, a decentralized data provider that delivers cost-effective and customizable data feeds for decentralized applications (dApps). It also offers Layer 2 scaling solutions compatible with both EVM and non-EVM blockchains.
Launched in February, RED has seen massive support from the crypto community, gaining over 65% during the past month. Binance also welcomed the token as the 64th project on its Launchpool, with the launch of a two-day farming event.
As of writing, RED is trading at $0.68, with a market cap of $192 million. It ranks 199th among the largest cryptocurrencies by market cap.
NIL is the native token of Nillion Network, a Layer 1 blockchain leveraging Multi-Party Computation (MPC) technology to offer enhanced security and parallelized data processing. The network focuses on privacy-preserving data handling, making it ideal for applications requiring high-level security.
📢 New Listing
— Bithumb (@BithumbOfficial) March 25, 2025
🚀 닐리온(#NIL) 원화 마켓 추가 안내
🚀 $NIL/KRW will be listed on #bithumb!
🔸 Details : https://t.co/FmkxXoDE1M #bithumb #NIL @nillionnetwork pic.twitter.com/wrugA2jFKo
Currently, NIL is trading at $0.75, recording a 16% drop in the past 24 hours. It has a market cap of $147 million, placing it at 269th in the crypto rankings. The token, officially launched earlier this week, has seen backing from big names, including BitMEX co-founder Arthur Hayes.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.