Kyber Network and OmiseGo Surge 70% With Bithumb Integration, Bitcoin Dips Below $9000

Bitcoin priceKyber Network (KNC) and OmiseGo (OMG) have surged by more than 73 percent and 32.5 percent respectively upon the announcement of South Korea’s biggest cryptocurrency exchange Bithumb’s integration.

Bithumb Jackpot

Earlier this year, Storm, an Ethereum-based ERC20 token project that incentivizes users for completing microtasks such as viewing advertisements on mobile phones or carrying out surveys, increased by more than 100 percent after its listing on Bithumb.

Today, on April 26, decentralized cryptocurrency exchange KNC and Ethereum-based scaling solution for finance OMG recorded massive gains in both volume and price prior to their listings on Bithumb.

The South Korean cryptocurrency exchange is expected to list both tokens at 11 pm GMT+8, approximately six hours later. The 11 pm listing of Bithumb means that the value of the two tokens have surged by more than 100 percent together merely due to the announcement of Bithumb, prior to the actual integration.

Upon the integration of the two tokens, the price of KNC and OMG could either surge even further and record bigger gains or plummet and demonstrate a steep dump. In the case of Storm, the momentum of the token continued throughout several days subsequent to the integration of Bithumb.

The jackpot listing of Bithumb may become a problem for both cryptocurrency investors and the company itself as blockchain projects will become desperate to be list their tokens on the South Korean exchange to experience the “Bithumb pump.” Similar to how Ripple had offered a $100 million deal to Coinbase to list XRP, Bithumb may receive attractive deals to integrate tokens…

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