WET rallies 50% as HumidiFi gains traction in Asia’s crypto market

Virtual currencies remained weak on Monday as Bitcoin wavered at $89,650 after a relatively muted performance in the past 24 hours.

The global cryptocurrency market cap has declined by 0.46% the last day to $3.05 trillion.

While the overall market struggled to find direction, HumidiFi’s native token has stunned the crypto community with an over 50% surge on its 24-hour price chart.

WET’s remarkable surge unfolded shortly after Upbit, the largest South Korean crypto exchange by volume, announced plans to add the alt’s pair to its trading platform.

According to today’s announcement, Upbit will list WET BTC, USDT, and KRW trading pairs at 18:30 KST on December 15.

The news gained traction due to South Korea’s highly active trading base.

Indeed, Upbit plays a vital role in the region’s crypto ecosystem, and listing on the platform has historically catalyzed significant price actions.

The WET/KRW pair is particularly crucial as it enables investors to access HumidiFi’s native token directly with local fiat.

That can attract rapid volume growth and amplified volatility for the altcoin.

For context, WET’s trading volume increased by over 90% after this announcement.

That reflects intensified trading activity amid renewed optimism.

Understanding HumidiFi

HumidiFi does not operate like traditional decentralized exchanges (DEXs).

Rather, it positions itself as a trade execution layer that optimizes how individuals route and execute trades on-chain.

Notably, this Solana-based layer aims to solve common DeFi challenges, including inefficient execution, fragmented liquidity, and slippage.

HumidiFi doesn’t compete with existing DEXs.

Instead, it integrates beneath them to offer an innovative infrastructure that enhances benefits for liquidity providers, traders, and dApps.

The protocol leverages WET as its native token, used for various functions, including gas and governance.

Why does Upbit listing matter?

South Korea boasts a reputation for a speedy and in-depth crypto market, with Upbit dominating in trading volumes.

Today’s listing immediately introduces HumidiFi to a vibrant audience.

The project has also received attention from market players seeking new opportunities amid the deteriorating broader market.

Also, WET’s performance reflects the current trend where markets are rotating from speculative narratives to utility-focused infrastructure projects with value in the DeFi world.

WET price outlook

The altcoin is changing hands at $0.2909 after a roughly 51% increase in the past day.

WET eyes further gains as the 95% uptick in trading volume signals adequate buyer momentum.

Nevertheless, broad-based weakness threatens HumidiFi’s bullish case in the near term.

Traders can expect price retracements after the listing hype fades.  

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