Haedal Protocol’s Market Cap Surges to $32 Million
- Haedal Protocol’s market cap rises after Bithumb listing announcement.
- Trading volume increased by 20%.
- Futures open interest increased by over 200%.
Lede: Haedal Protocol’s market cap surged to $32 million on May 2, 2025, after being listed on Bithumb, South Korea’s second-largest exchange.
Nut Graph: Haedal Protocol’s listing on Bithumb highlights its growing importance in the digital assets sector, suggesting potential for further market engagement.
Haedal Protocol, a liquid staking platform on the Sui blockchain, experienced a dramatic market capitalization increase from nearly $25 million to $32 million. It surged 50% on May 2 following the announcement of its Bithumb listing. Haedal Protocol’s market cap hits $32 million post Bithumb listing.
The surge in interest included a daily trading volume boost by 20% to a notable $180 million. Several key exchanges like Binance Alpha, Bybit, and KuCoin had already listed the token prior to this rise.
These changes brought attention to the potential benefits of decentralized staking on Sui. Futures open interest of over $45 million reflects institutional interest, while the stable funding rate indicates balanced market sentiment.
The listing marks an important milestone, indicating increased institutional investment and a possibly more mature market infrastructure supporting liquid staking tokens. The market’s reaction is considered crucial for future evaluations.
The surge could influence regulatory and market dynamics, offering insights into demand for staking technology. Historical data shows that initial token airdrops often lead to price drops, providing context for this market behavior.
Wu Blockchain, Crypto Analyst, Twitter, “Bithumb, the second largest exchange in South Korea, will list Haedal Protocol (HAEDAL) for Korean won trading pairs. Trading will start at 6:00 pm local time on Friday, May 2. Haedal is a liquidity staking protocol based on Sui.” – Source
