South Korea’s Bithumb Introduces BRETT and TAIKO Trading Pairs: Report

• Bithumb launches BRETT and TAIKO trading pairs in the Korean won market, expanding its crypto offerings.
• BRETT, a Base chain memecoin inspired by Boys’ Club comics, starts trading at 149 won today.
• TAIKO, an Ethereum layer 2 project, begins trading at 2,938 won, offering lower transaction costs.

Bithumb, the second-largest cryptocurrency exchange in South Korea, has announced the launch of two new trading pairs: BRETT and TAIKO. This addition to the Korean won market is scheduled to go live today, July 9, 2024, at 6:00 PM local time.

BRETT is a unique memecoin inspired by the character “Brett” from Matt Fury’s Boys’ Club comic. Known for his love of dancing and video games, Brett is a close friend of “Pepe,” the iconic figure behind the PEPE memecoin. Deployed on the Base chain, BRETT aims to foster growth through community engagement and strategic partnerships. Trading and withdrawals for BRETT will start at a base price of 149 won. Deposits will be available from 3:00 PM today, requiring 200 confirmations.

TAIKO, on the other hand, represents a significant advancement in Ethereum layer 2 solutions. This project leverages technologies like Based rollup, Contestable rollup and Booster rollup to address Ethereum’s high transaction costs while maintaining security. By using Ethereum validators as sequencers, TAIKO ensures efficient and secure operations. Additionally, it supports the immediate use of dApps deployed on Ethereum without needing extra configurations. The TAIKO token, essential for governance and node operation collateral, will begin trading at a base price of 2,938 won. Deposits for TAIKO will also start at 3:00 PM today, with 30 confirmations needed.

To maintain a safe trading environment, Bithumb has implemented specific restrictions for the initial trading period. For the first five minutes, buying orders will be restricted. Selling orders will also be limited to prices within -10% and +100% of the standard price. Automatic orders will be enabled after the first transaction is completed. 

Moreover, Bithumb emphasizes compliance with the Travel Rule for deposits and withdrawals. These transactions will only be supported through exchanges recognized by Bithumb. Users are advised to verify the address system and network series of the asset before making deposits. New users, especially those who registered within the last seven days, should be aware of potential restrictions and the need for additional verification.

Bithumb also reminds its users that virtual assets are high-risk investments that could result in significant financial losses. The platform encourages users to stay informed and exercise caution when trading. For detailed information, users can refer to the official websites and white papers for both BRETT and TAIKO, as well as the virtual asset review reports provided by Bithumb.