Orbiter Finance (OBT) Surges 95% Upon Bithumb Listing

OBT, the native token of Orbiter Finance, a cross-chain bridging protocol, has experienced a considerable surge. According to TradingView data, the token rose over 95% from its intraday low of $0.01720 on Thursday to reach $0.03355 on Friday before correcting slightly.

Notably, the surge followed its listing announcement on the South Korean-based crypto exchange Bithumb, which drove market activity. Meanwhile, the platform has also introduced an OBT airdrop event for eligible participants.

Bithumb Adds OBT to KRW Market

Bithumb has announced the listing of Orbiter Finance (OBT) on its KRW market, with trading set to begin at 6:00 PM KST on March 14, 2025. The token will be available on the Arbitrum One network, and deposits from other networks will not be supported.

$OBT will be listed on Bithumb in 2 hours.

Big thanks to our community for the continuous support. Let’s keep building.#OBT #Bithumb @BithumbOfficial https://t.co/AiqfWH4EC6

— Orbiter Finance 🛸 (@Orbiter_Finance) March 14, 2025

Notably, deposits and withdrawals will be enabled within two hours of the announcement, with a requirement of 30 confirmations for deposit completion. The base price for OBT on Bithumb is set at 26.34 KRW, providing a reference for initial transactions.

To ensure a controlled trading environment, the exchange has imposed initial restrictions on OBT transactions. Buying orders will be restricted for the first five minutes after trading starts.

Additionally, selling orders will be limited during this period if they are placed at prices lower than 10 percent below the base price or more than double the base price. Furthermore, automatic orders will only be available after the first transaction takes place.

Apart from trading restrictions, deposits and withdrawals must comply with the Travel Rule, meaning transactions can only be conducted through exchanges supported by Bithumb. Otherwise, deposits made through unsupported exchanges will not be reflected in user accounts and may take time to be returned.

OBT Listing Airdrop

In addition to the listing, Bithumb has launched an airdrop event to reward users who trade OBT for three consecutive days between March 14 and March 16, 2025. A total of 11,500,000 OBT will be distributed equally among all eligible participants, with payouts scheduled for March 28, 2025.

According to the exchange, users who have participated in other Bithumb-hosted events will still be eligible for this airdrop. However, those identified as exchange-affiliated or connected to the OBT foundation will be excluded.

Additionally, users engaging in abnormal trading activities, such as price manipulation, will be disqualified from receiving the rewards. Beyond event participation, Bithumb has emphasized the risks associated with virtual asset trading, warning that users may experience partial or total losses. 

“The responsibility for investment decisions regarding virtual assets lies with the investor, and any losses that may arise are the responsibility of the investor. Please carefully refer to the project homepage and white papers, etc. for specific details before trading, and trade carefully,” they stated.

Furthermore, users who created accounts within seven days of the announcement may face restrictions on deposits and withdrawals. They may also be required to undergo additional verification.

What is Orbiter Finance?

Orbiter Finance is a decentralized cross-rollup bridge designed to facilitate swift, secure, and cost-effective transfers of Ethereum native assets across various Layer 2 networks. By leveraging zero-knowledge (ZK) technology, Orbiter Finance aims to enhance the Ethereum ecosystem’s performance by reducing gas fees and accelerating transaction speeds.

The platform operates with smart contracts deployed only on the destination side, ensuring safety and efficiency in cross-chain transactions. Users can seamlessly bridge assets between networks like Ethereum and Optimism, among others, through Orbiter Finance’s innovative solutions.