South Korea’s leading cryptocurrency exchange Bithumb has officially announced the listing of Haedal Protocol (HAEDAL) with a Korean Won (KRW) trading pair.
The listing will go live at 6:00 PM KST on Friday, May 2, 2025. This move is seen as a significant milestone for the Haedal Protocol, which operates as a liquid staking platform on the Sui blockchain.
Alongside the listing, Bithumb clarified that only deposits via the Sui network will be supported, with deposits and withdrawals opening within three hours of the announcement.
The base price has been set at 178 KRW, and 20 confirmations will be required for successful deposits.
Haedal Protocol Gains Traction as a Sui-Based Liquid Staking Solution
The Haedal Protocol enables users to stake SUI tokens and receive haSUI, a liquid token that can be deployed across decentralized finance (DeFi) applications.
The tokenized approach to staking allows users to maintain capital efficiency while earning staking rewards.
By automatically delegating stakes to top-performing validators on the Sui network, Haedal enhances both yield potential and network stability.
Additionally, haSUI can be used across decentralized exchanges and lending platforms, broadening its utility within the Sui DeFi ecosystem.
HAEDAL Token’s Role in Governance and Ecosystem Utility
The HAEDAL token plays a central role in the governance and functionality of the Haedal Protocol.
Beyond its trading potential, HAEDAL grants holders the right to participate in protocol governance decisions such as staking policies, validator selection criteria, and future platform upgrades.
The governance utility ensures that the token is more than just a tradable asset, but a crucial tool for decentralizing protocol development.
The listing on Bithumb marks a pivotal step toward broadening HAEDAL’s accessibility and influence in the Korean crypto market.
Price Soars Over 50% Amid Trading Frenzy
In response to the listing news, HAEDAL’s price skyrocketed by 50.43% within 24 hours, reaching $0.1741 at the time of reporting.
The surge was accompanied by a massive 24-hour trading volume of $151.6 million, indicating strong market demand and investor enthusiasm.
Over the past week, the token has also recorded an overall upward price trend, signaling growing interest in the Haedal Protocol.
With a circulating supply of 200 million tokens, HAEDAL now holds a market capitalization of approximately $33.87 million.
Also Read: Bithumb Faces Accusations of Misleading Users With Hidden Fees, Says South Korean Lawmaker
Bithumb’s Track Record of Listings and Market Impact
The HAEDAL listing continues a recent trend of Bithumb driving price surges through strategic listings.
Just recently, Across Protocol (ACX) witnessed a 30% price spike after its Bithumb listing announcement, supported by a $144.6 million trading volume.
Similarly, Gnosis (GNO) and GAME token saw 25% and 30% price increases, respectively, when introduced on Bithumb’s KRW market.
The consistent pattern of market response underscores Bithumb’s influence on token visibility, liquidity, and investor sentiment, suggesting that HAEDAL may continue to gain momentum in the coming days as Korean traders fully engage with the new listing.
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