SEOUL, South Korea, Nov. 13, 2017 /CNW/ --
- Bithumb's trading volume jumps sixfold overnight after integrating QTUM
- Bithumb ranks first in global exchange for Ethereum (ETH), Bitcoin Cash (BCH), and Ripple (XRP)
- Bithumb's tenth coin, QTUM, reaches a new all-time high of 17,053 KRW since integration
Within five days of integrating QTUM as its tenth coin, Bithumb has become the largest QTUM exchange.
On October 20th, "Bithumb" (CEO Kim Dae-shik), the world's largest cryptocurrency exchange, listed QTUM as its tenth coin and ranked first in the QTUM exchange with 51% of the market share, taking the lead in the cryptocurrency market.
Bithumb officially partnered with the QTUM Foundation on October 20th and successfully integrated QTUM as its tenth official coin. Shortly after the release of the news, QTUM's trading volume jumped to approximately 343.19 billion KRW, a 517.1% increase from the previous day. At one point, the price reached its new all-time high of 17,053 KRW, a 33.2% increase from the previous day. The total market value rose from approximately 777.17 billion KRW to 1.004 trillion KRW overnight.
As of 3:15 p.m. on October 25th, according to CoinMarketCap, Bithumb's QTUM exchange was 51%, accounting for more than half of the world's market share for QTUM. Coinone ranked second with 33.6%, and Bittrex ranked third with 5.8%, which is one-tenth of Bithumb. In a span of five days after QTUM's acquisition, Bithumb has positioned itself as a major player in the global QTUM exchange.
Additionally, Bithumb leads the global market as it vies for first place with other cryptocurrencies, including Bitcoin and Ethereum. In the case of Ethereum (ETH), the second largest cryptocurrency, Bithumb ranks at the top with a market share of 10.8% and a trading volume of about 55.38 billion KRW. In regards to Bitcoin Cash (BCH), Bithumb takes up one-third of the global market share with 36.1%. For Bitcoin (BTC), the representative cryptocurrency, Bithumb ranks second highest in the global market with a trading volume of about 180.74 billion KRW. (CoinMarketCap, as of 3:15PM, October 25th)
Bithumb is also holding strong as the world's largest cryptocurrency exchange with its market share of 44.7% with Ripple (XRP), 25% with Ethereum Classic (ETC), and 17% with Litecoin (LTC).
QTUM, Bithumb's tenth coin, is a hybrid blockchain application platform that combines Bitcoin Core and the Ethereum Virtual Machine for executing smart contracts. With this platform, supply chain management, Internet of Things, and various applications for the business world can be built and expanded. Bithumb decided to integrate QTUM for its technological value, stability, and market competitiveness.
"In less than five days since Bithumb's integration of QTUM, its trading volume has rapidly increased, and Bithumb is currently the largest QTUM exchange in the global market," according to Bithumb. "We will continue to provide a stable and specialized service with leading cryptocurrencies that can competitively perform in the cryptocurrency market."