Build on Bitcoin token surges 109% before Bithumb listing

Build on Bitcoin (BOB), the BTC DeFi protocol, experienced significant activity on December 3, with its native token, BOB, more than doubling in price in anticipation of a listing on Bithumb.

BOB's price rally saw it increase by over 109%, reaching a peak of $0.025 before settling back to $0.021. Trading volumes for BOB also surged, approaching a three-month high of over $57 million in the preceding day. This rally indicates a continued appetite for tokens, even after periods of sideways trading near lower ranges, as BOB re-enters price discovery following its launch in late November.

Bithumb Listing Boosts BOB Trading Volumes

The trading profile of BOB saw an immediate shift after its listing on Bithumb. Previously, BOB's trading activity was primarily driven by Coinbase volumes. Following the listing, Bithumb quickly accounted for over 23% of BOB's trading volumes in the initial stages.

BOB ranked 11th among the most actively traded assets on Bithumb, marking its first KRW trading pair. Prior to this, the US dollar was the primary source of direct liquidity, followed by USDT.

The Bithumb listing confirmed that South Korean markets can still contribute significant liquidity and trading volumes. Despite some retail investors shifting their focus to other assets, new cryptocurrency listings continue to generate substantial price pumps.

BOB is a relatively new token with a developing spot market. However, the perpetual futures trading on Binance has been the largest driver of price discovery. Following the Bithumb listing, BOB's volume expanded to over $357 million as traders placed bets on its directional movement. The token also showed activity on Aster but was not represented on Hyperliquid.

Build on Bitcoin (BOB) Aims for Multi-Chain Expansion

Build on Bitcoin initially launched as an L2 chain within the Ethereum ecosystem, securing over $276 million in total value locked.

BOB also launched on Internet Computer (ICP), attracting more than 7,000 wallets. Build on Bitcoin operates an ICP version of the Bitcoin network, simulated entirely through software. The ICP launch was seen as a potential catalyst for BOB's price expansion, although new liquidity and perpetual futures trading were deemed necessary for a sustained recovery.

Build on Bitcoin has reported over 500,000 active users and is actively seeking to attract institutions as hybrid node operators. The protocol's primary objective is to become the central DeFi hub for leveraging the value of idle BTC.

The majority of the value on the L2 chain is derived from BTC derivatives or deposits, totaling over $183 million. The chain also supports bridged ETH and stablecoins, in addition to natively minted stablecoins. As of December 2025, the project's growth still relies heavily on centralized trading and early price discovery, with long-term plans focused on DeFi expansion.