ELX crypto has seen a remarkable surge of up to 68% in the last 24 hours, leading up to its listing on South Korean crypto exchange Bithumb. The token, Elixir (ELX), hit an all-time high of $0.726 on March 11, with its market cap exceeding $100 million. The daily trading volume also saw a significant increase of 154%, reaching $117 million.
The boost in ELX’s value comes after Bithumb announced that it would be adding the altcoin to its Korean Won market. Trading for ELX on Bithumb is set to commence at 4:00 PM KST on Tuesday, March 11, 2025. Deposits and withdrawals will be available on the Ethereum network within 2 hours of the launch. The initial price for ELX will be set at 681 yen, with a requirement of 33 deposit confirmations before transactions can be processed.
To ensure a smooth launch, Bithumb has implemented temporary restrictions. During the first five minutes of trading, buyers cannot place orders, and sell orders must fall within a range of -10% to +100% of the base price. Automated trading will only be activated after the first trade is completed.
The recent surge in ELX’s value also follows the project’s decision to open its validator program to the public. This program allows participants to contribute to the network’s decentralization and security while earning rewards.
Furthermore, ELX’s rally was further fueled by its recent listings on Bitget, Kraken, Bybit, and CoinW on March 7. These listings came shortly after the Token Generation Event on March 6, 2025, which established a total supply of 1 billion ELX tokens.
ELX is the native and governance token of Elixir, a decentralized liquidity network aimed at improving liquidity on orderbook exchanges. Launched in October 2024, Elixir recently secured an $8 million funding round co-led by Mysten Labs and Maelstrom, with contributions from various other entities. The Elixir ecosystem also includes deUSD, a fully collateralized, yield-bearing synthetic dollar powered by the Elixir Network. This platform supports the tokenization of real-world assets by facilitating funds from institutions like BlackRock, Hamilton Lane, and Apollo into DeFi.
The future looks promising for ELX as it continues to expand its presence in the crypto market and attract more investors with its innovative solutions for enhancing liquidity and decentralized finance.