Elixir’s (ELX) cryptocurrency has experienced a dramatic surge, rising by as much as 68% in the past 24 hours ahead of its upcoming listing on the South Korean exchange Bithumb.
ELX Hits All-Time High Before Bithumb Debut
According to CoinGecko data, ELX reached an all-time high of $0.726 on March 11, with its market capitalization surpassing $100 million. Daily trading volume spiked by 154%, reaching $117 million, signaling heightened investor interest in the token.
The surge comes after Bithumb confirmed its decision to add ELX to its Korean Won (KRW) trading market. As per the exchange’s official announcement, trading for ELX will commence at 4:00 PM KST on March 11, 2025. Deposits and withdrawals will be enabled within two hours of the listing, exclusively on the Ethereum network.
Bithumb has introduced certain temporary restrictions at launch. For the first five minutes, buyers will be unable to place orders, and sell orders must remain within a -10% to +100% range of the base price. Additionally, automated trading will be activated only after the first trade is executed. ELX’s initial price has been set at 681 yen, with traders required to wait for 33 deposit confirmations before transactions can be processed.
What is ELX Crypto?
ELX is the native and governance token of Elixir, a modular decentralized liquidity network designed to enhance liquidity on order book exchanges. The project aims to improve capital efficiency and decentralization within trading platforms.
Launched in October 2024, Elixir has quickly gained traction, securing an $8 million funding round earlier this month. The round was co-led by Mysten Labs and Maelstrom, with participation from major industry players like Manifold, Arthur Hayes, Amber Group, GSR, and Flowdesk.
Beyond ELX, Elixir’s ecosystem includes deUSD, a fully collateralized, yield-bearing synthetic dollar powered by the Elixir Network. This digital asset plays a key role in real-world asset tokenization, enabling institutions such as BlackRock, Hamilton Lane, and Apollo to channel funds into decentralized finance (DeFi).
Validator Program and Growing Exchange Presence
Elixir recently expanded its validator program to the public, allowing participants to contribute to the network’s decentralization and security while earning rewards. This initiative has added to ELX’s growing popularity and adoption.
Additionally, ELX’s latest rally extends gains from previous exchange listings on Bitget, Kraken, Bybit, and CoinW, which took place on March 7. These listings followed its Token Generation Event (TGE) on March 6, 2025, where the total supply of ELX tokens was set at 1 billion.
With a strong backing, increasing adoption, and major exchange listings, ELX continues to position itself as a key player in the evolving DeFi and liquidity solutions landscape. The upcoming Bithumb listing could further bolster its market presence and drive continued growth in the coming weeks.
