Bithumb Listing Propels Phala Network (PHA) Up 33%

Edgen Crypto

·Mar 20 2026, 07:39

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Key Takeaways

The price of Phala Network (PHA) experienced a significant increase following the announcement of its upcoming listing on the major South Korean cryptocurrency exchange, Bithumb. The new Korean Won (KRW) trading pair is expected to enhance liquidity and accessibility for the token in the active Korean market.

Price Reaction: The PHA token price climbed over 33% to approximately $0.043 immediately after Bithumb revealed plans for the new listing.
New Fiat On-Ramp: Bithumb is scheduled to launch the PHA/KRW trading pair on March 20, giving South Korean investors direct access to the token using their local currency.
Volatility Controls: The exchange will implement initial trading restrictions, including a 5-minute restriction on buy orders and price limits on sell orders, to manage potential price swings.

PHA Price Climbs 33% Ahead of Bithumb KRW Listing

Phala Network's PHA token increased over 33% to trade near $0.0434 after South Korean exchange Bithumb announced it would list a Korean Won (KRW) trading pair. The move provides direct fiat access to one of Asia's most active crypto markets, sparking immediate investor interest. Trading for the new PHA/KRW pair is scheduled to begin at 3:00 PM UTC+9 on March 20, 2026.

Bithumb Sets Strict Controls for Volatile Debut

To manage expected volatility, Bithumb has established a reference price of 48.24 KRW and will implement several trading restrictions at launch. Buy orders will be blocked for the first five minutes of trading, while sell orders that significantly deviate from the reference price will also be restricted. For the first two hours, only limit orders will be available to help build a stable market environment. These measures are designed to mitigate the sharp price swings often seen with new asset listings driven by speculative demand and thin initial liquidity.

Furthermore, the exchange specified that deposits will only be supported on the Ethereum network and require 33 confirmations to be credited. Bithumb will also enforce compliance checks, only processing transfers from approved Virtual Asset Service Providers (VASPs). Accounts created within seven days of the announcement may face temporary deposit and withdrawal restrictions to prevent illicit activities.