With the listing set to go live at 5:00 p.m. local time, Bithumb’s announcement triggered a sharp rally in Euler’s price. At the time of writing, EUL is up 34% over the past 24 hours, trading at $13.02, after swinging between $9.25 and $13.33 intraday.
The token’s market capitalization has reached $242 million, with a fully diluted valuation of $353 million. Despite the surge, EUL still trades roughly 20% below its all-time high of $15.81, recorded on July 11.
Trading activity also spiked following the news, with daily volume climbing 292% from the previous day to $9.58 million. Exchange listings often serve as strong price catalysts by attracting new capital and liquidity.
Broader ecosystem growth
The Bithumb listing follows a string of ecosystem milestones. On Aug. 6, EUL was added to Coinbase, expanding access for U.S. investors. Shortly after, on Aug. 18, Euler launched isolated ETH markets on Linea, an Ethereum Layer 2, to improve scalability and reduce transaction costs.
Earlier this month, the protocol marked the one-year anniversary of its V2 upgrade, which introduced the modular Euler Vault Kit for building custom lending markets. To commemorate the milestone, Euler rolled out EulerEarn, a passive yield strategy platform supported by $50,000 in USDC incentives.
On Sept. 2, Euler announced an integration with Pendle, unlocking new yield opportunities for DeFi users. These developments have coincided with a surge in total value locked, which has grown to $1.5 billion from just $100 million at the start of 2024, according to DeFiLlama.
Technical outlook
The latest rally pushed EUL above the upper Bollinger Band, reflecting strong upward momentum but also signaling a potential overextension. Meanwhile, the Relative Strength Index sits at 67, just below overbought territory.
The MACD continues to signal short-term caution, but the 10-, 20-, and 30-day moving averages remain aligned in a bullish formation.
If momentum holds, EUL could retest its July high of $15.81. On the other hand, a wave of profit-taking could drive the price back toward the $10.50–$11.00 support zone.
