Bithumb, the second largest crypto exchange in South Korea, has announced the addition of a new trading pair Filecoin (FIL) against the Korean Won (KRW). This marks a significant milestone for the platform, as it continues to expand its offerings in response to growing market demand.
Starting Monday, January 6, 2025, trading for the FIL/KRW pair will go live at 16:00 local time, giving South Korean traders instant access Filecoin using their local currency. This action is expected to improve liquidity for FIL within the area, thereby meeting the growing demand for decentralized storage options.
Filecoin gains momentum with Bithumb’s strategic listing
A decentralized blockchain-based storage solution, Filecoin is gaining attention in the crypto community.
Aided by increases in on-chain measures such as open interest and total value locked (TVL), analysts highlighted its potential for significant expansion. These signs show not only increased activity within the Filecoin network, but also positive sentiment among traders.
The timing of this listing is in line with Bithumb’s approach to increase trading pairs and offer users a diverse portfolio of cryptocurrencies. With 342 trading pairs and over 334 supported cryptocurrencies, Bithumb has become a significant player in the global crypto market.
The Fil/KRW integration enhances the exchange’s strong offerings and may attract more users eager to explore decentralized storage solutions via Filecoin.
Furthermore, the rapidly changing Filecoin ecosystem should be mentioned. More than 60 teams—including those working on decentralized storage, artificial intelligence, decentralized physical infrastructure networks (DePIN), and Web3 infrastructure—are actively working on projects within Filecoin’s network, according to CNF.
Recent technical improvements, such as the Fast Finality upgrade, which drastically reduces Filecoin finalization times from hours to minutes, are helping to aid these initiatives. This development increases the scalability and efficiency of the network, making it attractive to consumers as well as developers.
Meanwhile, FIL has traded for an eye $6.16 at the time of writing, cf 8.92% in the last 24 hours or more 22.42% in the last 7 days. This increase in value shows more attention after Bithumb’s announcement.
