Build on Bitcoin (BOB), the BTC DeFi protocol, turned up among the most active tokens on December 3. BOB more than doubled its price ahead of a Bithumb listing. 

Build on Bitcoin is trending after its native token, BOB, rallied by over 109%. The token peaked at $0.025, later retreating to $0.021. BOB trading volumes also expanded close to a three-month peak above $57M in the past day. 

The BOB rally is showing there is still appetite for tokens, even after months of sideways trading near the lowest range. The token is now once again taking up price discovery following its launch at the end of November. 

Bithumb immediately boosted BOB volumes

The trading profile of BOB immediately shifted after the listing on Bithumb. Until recently, BOB was mostly driven by Coinbase volumes. In the initial stages of trading, Bithumb made up over 23% of BOB volumes. 

BOB ranked 11th among the most actively traded assets on Bithumb, receiving its first KRW trading pair. Until recently, the US dollar was the biggest source of direct liquidity, followed by USDT. 

The listing also confirmed that South Korean markets could still supply additional liquidity and volumes. Despite the withdrawal of some retail investors, who moved into Samsung shares, new crypto listings still produce significant pumps. 

BOB is a relatively new token, currently developing a growing spot market. However, the biggest source of price discovery is the perpetual futures trading on Binance. BOB volume expanded to over $357M after the Bithumb listing, as traders made bets on the directional move. 

The token was also active on Aster, but had no representation on Hyperliquid. 

Build on Bitcoin (BOB) to become multi-chain asset

Build on Bitcoin initially started as a L2 chain on the Ethereum ecosystem. The chain drew in over $276M in secured value. 

BOB also launched on Internet Computer (ICP), securing over 7,000 wallets. Build on Bitcoin runs an ICP version of the Bitcoin network, simulated entirely through software. The ICP launch was considered a possible trigger for BOB price expansion, though the token showed new liquidity and perpetual futures was needed for a recovery. 

Build on Bitcoin reported over 500K active users, while also trying to attract institutions as hybrid node operators. The main goal of the chain is to become the DeFi hub for tapping the value of idle BTC. 

Most of the value on the L2 chain hinges on BTC derivatives or deposits, reaching over $183M. The chain also carries bridged ETH and stablecoins, as well as natively minted stablecoins. As of December 2025, the project still relies mostly on centralized trading and early price discovery, though the long-term plans include DeFi growth.

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