Euler price surges over 30% as Bithumb announces listing in Korean Won market

Following confirmation by South Korea’s cryptocurrency exchange Bithumb that the token would be listed for trading against the Korean won, Euler saw a more than 30% increase.

With the listing scheduled to go live at 5:00 p.m. local time, the announcement caused a significant spike in price. At the time of writing, EUL is up 34% over the previous day, trading at $13.02, with intraday fluctuations ranging from $9.25 to $13.33.

The token’s market capitalization stands at $242 million, while its fully diluted valuation is at $353 million. Despite the surge, EUL remains around 20% below its all-time high of $15.81, recorded on July 11.

Bithumb’s listing announcement caused trading activity to spike sharply. The daily volume increased by 292% from the previous day to $9.58 million. Listings on exchanges are important price catalysts because they frequently draw in fresh capital and liquidity.

Broader ecosystem developments

The Bithumb listing comes on the heels of several developments within Euler’s ecosystem. On Aug. 6, the token was added to Coinbase, expanding its reach to U.S. investors. In an effort to increase scalability and lower transaction costs, Euler introduced isolated ETH markets on Linea, an Ethereum ( ETH ) Layer 2, on Aug. 18. 

The protocol also celebrated the one-year anniversary of its V2 upgrade earlier this month, which brought with it the Euler Vault Kit, a modular system for building custom lending markets. To celebrate, Euler rolled out EulerEarn, a passive yield strategy platform backed by $50,000 in USD Coin ( USDC ) incentives. 

Meanwhile, new yield opportunities for decentralized finance users were made possible by an integration with Pendle ( PENDLE ), which was announced on Sept. 2. Euler’s total value locked has increased to $1.5 billion, a substantial increase from $100 million in early 2024, according to DeFiLlama data . 

Euler price technical analysis

The sharp price spike pushed EUL above the upper Bollinger Band, signaling strong momentum but also a potential overextension. Slightly below overbought levels, the Relative Strength Index is at 67.

Euler daily chart. Credit: TradingView

The moving average convergence divergence still indicates short-term caution, but moving averages over 10, 20, and 30-day windows are in a bullish setup.

EUL may retest its July peak at $15.81 if momentum continues. However, if profit-taking takes hold, a decline to the $10.50–$11.00 range is still feasible.