Balance, a venture backed by a16z, gains over 70% in value in anticipation of being listed on Bithumb exchange.
EPT on a 72% Surge as It Lists on Bithumb
Amid anticipation, Balance's native token EPT surged by an astounding 72% today, preping for its upcoming listing on South Korea's Bithumb exchange later today.
According to stats from CoinGecko, the crypto tide shifted for Balance (EPT) on May 8, escalating to a daily peak of $0.012. This surge propelled EPT's market cap above $27 million while trading volume skyrocketed 44%, hitting around $63 million.
The primary driving force behind this surge? Bithumb, a popular South Korean crypto exchange, announced the introduction of a KRW trading pair for EPT set for 6:00 PM KST on Friday, May 8, 2025.
With Bithumb joining the party, EPT follows a string of earlier listings on Binance Alpha, Gate.io, KuCoin, Bitget, and MEXC, all happening on April 21—just a day after Balance's TGE and mainnet launch. At launch, the EPT token's total supply stood at 10 billion.
With Bithumb's announcement, activity in EPT's derivatives market sizzled. As CoinGlass data reveals, open interest in EPT futures increased a whopping 52% over the past 24 hours, reaching nearly $20 million. The funding rate held steady at 0.0050%, implying most traders are keeping long positions, wagering that the rally has more room to grow.
Mayhem over Binance listing Pi Network? Wallet activity sparks whispers ahead of planned May 14 ecosystem update Looking at the charts, things still spark optimism. On a 4-hour USDT chart, EPT has burst through the upper boundary of a descending parallel channel pattern, often foreshadowing a potential trend reversal and the start of a new bullish phase.
EPT now holds ground above the 20-day moving average, fortifying the bullish outlook. To top it off, the MACD line has crossed above the signal line, indicating the recent bearish trend may be drawing to a close.
With positive momentum powering ahead, EPT has the potential to push towards the next key psychological resistance at $0.014. A bold break above that level could pave the way for a return to its all-time high of $0.017, representing a possible 54% gain from current rates.
At the time of writing, EPT trades around $0.011 per token.
What is Balance? Established in February 2024, Balance is a Web3 AI-powered platform, crafted to blend gaming, socializing, and decentralized finance within a singular blockchain ecosystem. Riding on a multichain infrastructure, users can delve into AI-driven virtual worlds while scoring rewards via its native token, EPT.
EPT plays a significant role in the Balance ecosystem, powering governance, staking rewards, liquidity incentives, and in-game utility across the platform.
In September 2024, Balance raked in $30 million in funding from influential investors such as Andreessen Horowitz, Galaxy Interactive, Amber Group, and Animoca Brands, aiming to speed up the development of AI-integrated Web3 gaming and social experiences.
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Disclaimer: This article does not constitute financial advice. The content and materials posted here are intended for educational purposes only.
- The upcoming listing of Balance's native token EPT on Binance, following earlier listings on Binance Alpha, Gate.io, KuCoin, Bitget, and MEXC, could potentially fuel further growth.
- Aside from trading on Bithumb, holders can also store their EPT tokens in a wallet suitable for staking, as staking could potentially earn them rewards.
- With the surge in EPT's trading volume and market cap, decentralized exchange (DEX) transactions for EPT could also see an increase, further integrating it into the broader crypto ecosystem.
- The technology behind Balance, a Web3 AI-powered platform, is designed to leverage blockchain for gaming, socializing, and decentralized finance.
- As EPT continues to rise, some are speculating whether this could signify a shift in the crypto market, with Bitcoin's dominance potentially being challenged by up-and-coming tokens like EPT.
