a16z-backed project Balance rallies over 70% ahead of Bithumb listing
The post a16z-backed project Balance rallies over 70% ahead of Bithumb listing appeared on BitcoinEthereumNews.com.
EPT, the native token of the AI-powered Web3 platform Balance, surged as much as 72% today ahead of its upcoming listing on South Korea’s Bithumb exchange later in the day. According to CoinGecko data, Balance (EPT) printed what traders call a “god candle” on May 8, rallying to an intraday high of $0.012. This pushed its market cap over $27 million while daily trading volume spiked 44% from the previous day, hitting around $63 million. The key catalyst behind today’s move was Bithumb, a major South Korea-based crypto exchange, which announced the addition of a KRW trading pair for the EPT token set at 6:00 PM KST on Friday, May 8, 2025. Bithumb becomes the latest exchange to pick up EPT, following earlier listings on Binance Alpha, Gate.io, KuCoin, Bitget, and MEXC, all of which listed the token back on April 21, right after Balance’s token generation event (TGE) and mainnet launch. At launch, the total EPT token supply was set at 10 billion. Activity in EPT’s derivatives market spiked after the Bithumb announcement broke. Data from CoinGlass shows that open interest in EPT futures spiked 52% over the past 24 hours, reaching nearly $20 million. Meanwhile, the funding rate stayed steady at 0.0050%, suggesting most traders are holding bullish positions and betting that the rally still has room to run. From a technical perspective, things are still looking positive. On the 4-hour USDT chart, EPT has broken above the upper boundary of a descending parallel channel pattern that it had been stuck in since its launch. This kind of breakout often signals a potential trend reversal and the start of a new bullish phase. EPT price, 20-day SMA and MACD chart — May 8 | Source: TradingView EPT’s price is now holding above the 20-day moving average, reinforcing the…
