Why the Build on Bitcoin (BOB) coin price soared by over 100% today?
The Build on Bitcoin (BOB) coin has experienced a remarkable surge in value, signalling one of its most significant price movements in recent months.
At press time, BOB was trading at approximately $0.02188, reflecting a staggering 100.1% increase in the past 24 hours.
Notably, this sudden rally comes after a period of stagnation and a negative monthly trend, marking a dramatic turnaround for the hybrid Layer-2 blockchain token.
Bithumb lists Build on Bitcoin (BOB)
A major catalyst behind today’s BOB price surge is the listing of BOB on South Korea’s Bithumb exchange.
The listing, which went live at 15:00 local time, immediately pushed the coin’s price higher by over 120% in the initial hours of trading before a slight pullback to the current trading price.
Following the listing, Bithumb now supports a KRW trading pair and has waived transaction fees until December 5, 2025, offering both retail and institutional investors an incentive to participate.
Notably, the exposure to one of Asia’s largest cryptocurrency markets has significantly increased liquidity and trading volume, making Bithumb a pivotal factor in the current rally.
In addition, Coinbase has also added BOB to its roadmap, and previous debuts on Kraken, Binance Alpha, and KuCoin have already laid the groundwork for broader market participation.
In most cases, tier-1 exchange listings often translate into higher accessibility and trading activity, which appears to have contributed directly to the sharp rise in BOB’s price.
Staking and token scarcity
Another element fueling the surge is the recent staking activity surrounding BOB.
More than 2,600 users have locked up approximately 58 million BOB tokens, representing around 2.6% of the circulating supply.
The 18-month staking lock-ups come with substantial bonus incentives, effectively reducing the amount of BOB available for immediate trading.
By limiting the supply in the short term, staking introduces scarcity that can amplify upward price movements when demand rises, as has been the case during the recent exchange activity.
The effect of staking on price dynamics is complemented by a relatively low short-term RSI of 34.6 over seven days, indicating that the token has room for additional gains before reaching overbought conditions.
The combination of locked tokens and renewed investor interest has strengthened the upward momentum, supporting the overall bullish narrative.
Bitcoin DeFi narrative
Build on Bitcoin’s unique positioning as a hybrid Layer-2 blockchain that merges Bitcoin’s security with Ethereum-style smart contract functionality has attracted attention in the growing Bitcoin DeFi sector.
Build on Bitcoin’s infrastructure enables a bridge between Bitcoin and broader DeFi applications, positioning it as a key player for investors seeking exposure to BTCFi strategies.
The platform facilitates native BTC transfers across multiple chains, enabling decentralised finance applications that leverage Bitcoin liquidity.
Partnerships with institutions like Anchorage and a $25 million funding round have reinforced its credibility and institutional interest.
Its trading volume has also surged alongside these developments, with 24-hour trading activity jumping nearly 293% to $83.4 million, reflecting heightened speculation and active engagement from traders.
BOB price outlook
While the rally is impressive, market observers caution that the 102% single-day gain has occurred against a broader market sentiment marked by caution, with the CMC Fear and Greed Index at 22.
Key indicators, such as the 7-day simple moving average of $0.0136 and order book stability on Bithumb, will determine whether Build on Bitcoin (BOB) can sustain its momentum.
Investors should closely monitor trading patterns, as rapid gains can sometimes precede short-term corrections in volatile markets.
The post Why the Build on Bitcoin (BOB) coin price soared by over 100% today? appeared first on Invezz
