Raydium Surges 34.3% Post Upbit Listing Boosting Market Sentiment

Coin WorldThursday, Jun 19, 2025 1:17 am ET
2min read

Upbit’s recent listing of Raydium (RAY) has sparked significant market optimism, with the token experiencing a notable price recovery. Prior to the listing,

had faced a steep decline of 27.3% over the previous month, with its market capitalization halving from over $1 billion to approximately $500 million. The listing announcement on June 19, 2025, at 12:00 PM KST, catalyzed a swift 34.3% price increase, pushing RAY from $2.07 to $2.78 within minutes and its market cap above $655 million. Although a modest correction followed, RAY maintained gains, trading at $2.32 at the time of writing. This pattern aligns with Upbit’s historical influence on altcoin performance, where listings often trigger short-term rallies.

Upbit’s strategic support for RAY highlights the exchange’s role in revitalizing tokens with recent downward trends, offering renewed liquidity and investor confidence. The immediate price surge following the listing announcement illustrates the strong correlation between exchange support and token valuation. Market participants often view such listings as endorsements of a token’s viability and potential liquidity improvements. This phenomenon was evident as RAY’s market cap rebounded significantly, signaling increased trading activity and investor interest.

Moreover, the listing contributed to broader market sentiment, encouraging speculative trading and short-term investment strategies. Upbit’s reputation as a leading exchange amplifies this effect, making its listings highly anticipated events within the crypto community. The strong performance of RAY underscores the growing investor appetite for emerging tokens within the expanding crypto ecosystem.

Bithumb’s decision to list

Finance (HUMA) and Forta (FORT) further diversified the KRW trading market. HUMA experienced a 12.0% price increase shortly after listing, reflecting initial market enthusiasm despite a subsequent pullback. In contrast, FORT demonstrated a robust 52.2% surge, reaching $0.10 and becoming the top daily gainer. The strong performance of FORT underscores growing investor appetite for emerging tokens within the expanding crypto ecosystem. Bithumb’s listings contribute to increased market liquidity and provide traders with expanded options, fostering a more dynamic trading environment.

South Korea’s cryptocurrency market continues to demonstrate robust growth, with KRW-denominated trading volumes reaching nearly $663 billion in 2025, positioning the country as a leading global crypto hub. Approximately one-third of adults now own cryptocurrency, doubling the adoption rate seen in the US. Despite this growth, challenges persist, such as fragmented markets, low stablecoin adoption, and the persistent “kimchi premium”—a price differential unique to exchanges—that hinder institutional participation and product innovation.

Addressing these barriers will be critical for sustaining momentum and fostering a more integrated and efficient market that can support long-term growth and innovation. The recent token listings by Upbit and Bithumb have invigorated the cryptocurrency market, demonstrating the significant influence of exchange support on token performance. Raydium’s rebound and Forta’s remarkable gains exemplify how strategic listings can catalyze investor interest and market activity. As the region solidifies its position as a leading global crypto hub, overcoming structural challenges will be essential to unlocking further growth and innovation in the sector.

Investors and market participants should monitor upcoming exchange listings and regulatory developments closely, as these factors will continue to shape the trajectory of the dynamic crypto landscape. The developments underscore the expanding crypto ecosystem, which saw KRW-denominated trading volumes reach nearly $663 billion in 2025. These developments highlight the impact of exchange support on token performance and the growing investor interest in the local crypto market.