ELX crypto surged by as high as 68% in the past 24 hours of trading ahead of a listing on South Korean crypto exchange Bithumb.
According to data from CoinGecko, Elixir’s (ELX) rallied to an all-time high of $0.726 on March 11 as its market cap surged past $100 million. Its daily trading volume was up 154% over the previous day at $117 million.
ELX’s gains today followed after South Korean crypto exchange Bithumb revealed it would be adding the altcoin to its Korean Won market.
According to Bithumb’s official announcement, trading for ELX will begin at 4:00 PM KST on Tuesday, March 11, 2025. Deposits and withdrawals will open within 2 hours of the notice, but only on the Ethereum network.
ELX will have an initial price of 681 yen, and traders must wait for 33 deposit confirmations before transactions can be processed.
Bithumb has also put some temporary restrictions on the launch. For the first five minutes, buyers can’t place orders, and sell orders must stay between -10% and +100% of the base price. Automated trading kicks in only after the first trade goes through.
Today’s gains also followed the project’s decision to open its validator program to the public, enabling participants to contribute directly to the network’s decentralization and security while earning rewards.
Additionally, ELX’s current rally extended gains that followed its exchange listings on Bitget, Kraken, Bybit, and CoinW on March 7. These came a day after its Token Generation Event on March 6, 2025, which established a total supply of 1 billion ELX tokens.
What is ELX crypto?
ELX is the native and governance token of Elixir, a modular decentralized liquidity network designed to enhance liquidity on orderbook exchanges.
Launched in October 2024, Elixir secured an $8 million funding round earlier in March this year, which was co-led by Mysten Labs and Maelstrom, with contributions from Manifold, Arthur Hayes, Amber Group, GSR, Flowdesk, and others.
Elixir’s ecosystem also includes deUSD, a fully collateralized, yield-bearing synthetic dollar powered by the Elixir Network, which supports real-world asset tokenization by facilitating funds from institutions such as BlackRock, Hamilton Lane, Apollo, and others into DeFi.
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