NAIROBI (CoinChapter.com) — Aethir (ATH), a notable token within the Decentralized Physical Infrastructure Network (DePin), experienced a 35% surge after South Korea’s leading cryptocurrency exchanges, Upbit and Bithumb, announced its listing.
The token, which has gained attention due to its applications in AI and gaming, started trading on these platforms today, further solidifying its presence in the market.
Strong Market Debut for Aethir (ATH) on Upbit and Bithumb
Aethir (ATH) launched on South Korea’s two largest crypto exchanges in both KRW and BTC trading pairs. This listing places the token in one of the world’s most active cryptocurrency markets.
The exchanges implemented trading incentives, including a 24-hour withdrawal fee exemption and temporary restrictions on buy orders following the start of trading.
The exchanges implemented stringent price control measures to maintain market stability. Sell orders set at prices 10% lower than the previous day’s close were restricted, preventing sharp declines.
These measures reflect a commitment to ensuring a controlled trading environment for ATH, mitigating the volatility often seen with newly listed assets.
Aethir (ATH) Targets New Highs Amid Sector Growth
Meanwhile, the DePin Token Aethir (ATH) launched the Edge Early Adopter Bonus Program, running from Sept. 1 to Oct. 31. This program offers a 60% bonus on top of base ATH rewards for active Edge GPU devices, encouraging early network participation.
The Ichimoku Cloud indicator suggests a challenge in breaking through this resistance, with the Relative Strength Index (RSI) at 55.45, indicating moderate buying momentum.
Aethir’s integration into AI and gaming sectors has driven this price action. The demand for decentralized GPU resources supports Aethir’s position in the market. Aylo, a crypto researcher, noted that Aethir is leading the decentralized GPU sector and showing profitability.
Financially, Aethir reported $36 million in revenue over the past year with a 10% month-over-month growth, driven by its Platform-as-a-Service (PaaS) offerings.
Despite this momentum, Aylo cautioned that no DePin project has yet proven long-term viability, advising investors to approach with caution.
Aethir’s Open Interest Surge by 332%
Following its listing, Aethir (ATH) saw a 332% increase in open interest, reaching $30 million. This spike indicates market activity and growing interest in the token. Despite an initial price peak at $0.087, ATH stabilized around $0.0725, reflecting continued volatility.
Contract open interest data highlights the increased market attention, with ATH’s OI share rising compared to Bitcoin (BTC) and Ethereum (ETH). Bitcoin‘s open interest increased by 4.94%, while Ethereum’s rose by 3.32%. ATH’s 332.26% increase indicates rapid position accumulation of the token.
Additionally, Coinglass derivatives data for Aethir (ATH) shows a remarkable 4,476.4% surge in trading volume, reaching $294.05 million. This surge in volume suggests heightened trading activity, with long and short positions both contributing to the market dynamics.
The combination of increased open interest and trading volume indicates a strong but volatile market environment for ATH.
