Bithumb Adds Humanity Protocol, MANTRA Tokens to KRW Market

Bithumb, a leading digital asset exchange in South Korea, has announced the addition of Humanity Protocol (H) and MANTRA (OM) tokens to its KRW trading market. The trading for both tokens is scheduled to begin on July 3 at 7:00 PM KST. This move is part of Bithumb's strategy to broaden its offerings and provide users with more diverse investment opportunities.

Humanity Protocol (H) operates on the Ethereum network, with deposits and withdrawals exclusively processed through Ethereum. The token's initial reference price is set at 93.81 KRW, requiring 33 blockchain confirmations for deposit processing. Deposits and withdrawals for H will be enabled within two hours of the official announcement, ensuring the security and integrity of transactions. This aligns with the protocol's focus on decentralization and community governance.

MANTRA (OM), on the other hand, functions on its proprietary MANTRA network for deposit and withdrawal operations. With a reference price of 290 KRW, the token boasts a relatively fast deposit confirmation process, requiring only a single confirmation. Similar to H, deposit and withdrawal services for OM will be available within two hours of the formal announcement. The simultaneous trading commencement for both assets at 7:00 PM on July 3 underscores Bithumb's commitment to providing a seamless and efficient trading experience.

To ensure market stability, Bithumb has implemented specific trading restrictions for the newly listed assets. For the first five minutes after trading begins, buy orders will be restricted. Additionally, during this period, sell orders exceeding +100% or falling below -10% of the reference price will also be disabled. Automated trading features will only be activated following the first successful trade execution. These measures are designed to prevent market manipulation and ensure a fair trading environment for all participants.

Regarding deposits and withdrawals, compliance with Korea’s Travel Rule is mandatory. Transfers will only be permitted between exchanges designated as Virtual Asset Service Providers (VASPs) by Bithumb. Assets deposited from unsupported exchanges will not be credited and may take substantial time for a return. The exchange urges users to verify all address formats and network details before initiating deposits to avoid complications under its misdeposit handling policy. This emphasis on compliance and security reflects Bithumb's dedication to maintaining a trustworthy and reliable platform.

Bithumb reminded users that digital asset investment carries a risk of capital loss due to the volatile nature of cryptocurrencies. The responsibility for all investment decisions lies solely with the investor. The firm strongly advises checking official project whitepapers and websites for accurate and detailed token information before proceeding with investment. This advisory underscores the importance of due diligence and risk management in the cryptocurrency market.

Bithumb noted that the listing schedule may change based on liquidity assessments conducted under its listing support criteria. Furthermore, the initial chart prices for both Humanity Protocol (H) and MANTRA (OM) will adhere to their disclosed reference prices rather than the first trade prices. This approach ensures transparency and fairness in the pricing of the newly listed tokens, providing a stable foundation for trading activities.

The listing of Humanity Protocol and Mantra on Bithumb could lead to increased liquidity and trading activity, attracting more investors to these tokens. This decision aimed at expanding market reach suggests positive prospects for their adoption and value. The listing involved Bithumb, Humanity Protocol, and Mantra with the goal of increasing trading accessibility. However, Humanity Protocol faced initial challenges such as bot activity concerns, while Mantra remained largely unaffected in public discourse. Both entities expect to benefit from greater market interaction.

The impact on the market is evident as Humanity Protocol experienced a notable price decline shortly after launch. However, the listing could stabilize engagement levels among investors, prompting a greater interest in token utility and governance offerings. Financially, the listings present potential growth opportunities for token-holders through increased liquidity. Investor interest may spike due to the incentive campaigns by platforms like Bitget, which actively promotes trading activities. The effect on broader altcoin markets remains subtle but potentially noteworthy.

Looking forward, the listings might prompt regulatory scrutiny in South Korea, paralleling global trends toward increased crypto oversight. Technologically, the focus will be on addressing organic growth obstacles such as bot-activity, which Humanity Protocol aims to mitigate through focused community engagement. The founder of Humanity Protocol, Terrence Kwok, has stated that the protocol will update its allocation and seek community support to address these challenges.