Stader price climbed sharply after its listing on Bithumb’s Korean Won market, posting a surge of more than 40% in a single day.
Summary
- Stader rose 42% on Aug. 26 following its listing on Bithumb’s Korean Won market.
- Governance updates, including July’s revenue buyback plan, continue to support token fundamentals.
- Technical signals point to a breakout, with potential targets at $1.12 and $1.40.
At the time of writing, Stader (SD) was trading around $0.91, nearly 39% higher over the past 24 hours. The token’s rally has also lifted its seven-day performance by 26%, with momentum stretching beyond the past month.
Bithumb listing drives demand
The announcement by Bithumb on Aug. 26 confirmed that SD would now be available in the KRW market through the Ethereum (ETH) network. The development instantly triggered the token’s price surge, briefly rising above $1.12 before declining slightly.
Additionally, trading volumes increased significantly, rising by more than 300% from to $25.5 million over the last day. With the listing, Korean traders will have direct access to SD via a major fiat exchange, bringing with it a new level of market visibility and liquidity.
Expanding ecosystem supports price action
The surge’s timing aligns with the Stader ecosystem’s continued expansion. The group introduced Cabbage earlier this year, an AI-driven trading platform that makes trading memecoins easier with features like Crowd Pulse and Whale Watch.
According to Stader’s projections, even a small portion of monthly memecoin activity could generate substantial yearly revenue. Updates to governance have also added more utility to the token.
An recent vote by the DAO allocated 20% of protocol revenue toward buybacks of SD, which could be burned, redistributed to stakers, or used to reward traders. These developments have helped strengthen confidence in the project, providing a foundation for speculative interest even before the Bithumb listing.
Stader technical analysis
On the daily chart, price action is currently moving along the upper Bollinger Band in the $0.90 to $1.00 range after SD broke out of its consolidation range around $0.60. The volume increase confirms that there is strong support for this breakout.
There may still be space for the rally before overbought levels are reached, according to the relative strength index, which is currently at 64.
If the token sustains support at $0.74, attention may return to $1.12, the level that capped gains earlier in the session. A clear move above that level could pave the way for a move toward $1.40, a resistance level that was tested earlier this year.
However, if recent support is broken, there is a chance that the price will drop back to $0.60, where the previous base of accumulation was formed.
