Useless Coin Surges 19% on Bithumb Listing and Whale Accumulation
Useless Coin ($USELESS) climbed more than 19% in the past 24 hours, pushing weekly gains above 169% as of press time. Daily trading volume declined but remained sufficient for liquidity needs, with the volume-to-market-cap ratio holding at 47%.
Key Catalysts Behind the Rally
The rebound follows a three-day correction from the $0.3188 level. Three primary factors drove the surge: a major exchange listing, a sharp rise in Open Interest (OI), and significant capital inflows from large holders.
Bithumb Listing Expands Asian Market Access
The primary driver was increased exposure to the Asian market. South Korean exchange Bithumb listed $USELESS against the Korean Won (KRW), signaling expanding retail and institutional attention in the region.
Following the listing, Open Interest for the memecoin reached a new all-time high of $146 million, more than doubling the previous peak of $70 million recorded in October 2025. The surge in OI indicates rising buy-side contract activity for $USELESS.
Whale and Institutional Accumulation Signals Long-Term Conviction
On-chain data reveals substantial accumulation by major holders. A single whale withdrew 14 million $USELESS tokens—valued at approximately $3.20 million—from Coinbase Prime Custody to a private wallet at the $0.215 price zone.
Additional transactions show institutional-grade custody movements. Over 440,000 tokens moved from Gate exchange to Fireblocks Custody, while 2.20 million coins flowed into KuCoin’s cold wallet. These patterns suggest serious participants are positioning for extended holding periods.
Traders monitoring chain activity from these wallets—including known market makers—may gain early insight into future market moves.
Technical Outlook: Can $USELESS Hold Above $0.19?
Technically, $USELESS is ranging near its 2026 highs and approaching that resistance level. Buying pressure between $0.19 and $0.21 supports potential short-term continuation. However, the token remains 64% below its all-time high of $0.4375.
The $0.30 supply zone presents a key bearish hurdle, particularly if broader memecoin sector momentum fades. Losing $0.20 as support would shift control to sellers, while a sustained break above $0.30 would reinforce buyer dominance.
The Choppiness Index reading at 50 is declining, signaling that the uptrend is gradually strengthening. The MACD has turned green, though small histogram bars indicate the trend lacks robust momentum. Overall, $USELESS maintains a bullish market structure as momentum returns.
Summary
- 24-hour gain: +19%
- Weekly gain: +169%
- Key catalyst: Bithumb KRW listing and whale accumulation
- Current range: $0.19 – $0.30
- Critical levels: Support at $0.20; resistance at $0.30
- Technical bias: Bullish structure with improving momentum
