Across Protocol's ACX Token Surges 44% Ahead of Bithumb Listing
1min read Bithumb, the second-largest cryptocurrency exchange in South Korea, has announced the listing of Across Protocol (ACX) on its KRW market. This development comes as ACX has seen a notable price increase, rising by 44% in the last 24 hours. The trading for the ACX/KRW pair is scheduled to begin at 6:00 PM local time on March 22, 2025, with an initial price of 439 KRW. Deposits and withdrawals will be activated within two hours of this announcement.
Across Protocol functions as a decentralized cross-chain bridge, enabling secure and efficient transfers of digital assets across different blockchain networks. Bithumb will exclusively support the ACX token on the Ethereum network, with deposits from other networks not being accepted. Additionally, deposits and withdrawals will only be facilitated through virtual asset exchanges authorized by Bithumb.
The recent price surge of ACX can be attributed to several factors. The altcoin reached a peak of $1.74 in December 2024 but has since experienced a sharp decline. Currently, the price is targeting to break the $0.50 mark, with the next target range estimated at around $0.71. If the current positive trend continues, ACX might even approach the $0.80 mark and potentially surpass it. However, if it fails to overcome these key resistance levels, there is a risk of the price falling. Current support levels are identified between $0.25 and $0.30. The Relative Strength Index (RSI) for ACX is at 77, indicating that it is currently in overbought territory. This suggests that the price might be higher than its intrinsic value and could be due for a correction soon.
Contributing to the positive momentum, Across Protocol recently announced a successful $41 million token sale. The investment round was led by Paradigm, with significant contributions from other major investors including bain capital Crypto, coinbase Ventures, and Multicoin Capital. These funds are allocated to support the further development of Across Protocol, with a focus on enhancing blockchain interoperability and decentralized asset transfers.
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