Six months ago, South Korea — one of the largest cryptocurrency markets in the world — banned the issuance of new cryptocurrencies. However, that hasn’t stopped South Korean blockchain entrepreneurs from circumventing the country’s restrictions by launching Initial Coin Offerings (ICOs) overseas..
The issuance of new cryptocurrencies, which was banned in South Korea six months ago, has returned to the country via overseas listings for local trading. ICON (ICX), which is being called ‘Korean version of Ethereum’, was issued in Switzerland and is leading the new trend..
South Korea’s largest exchanges has seen an increase in revenue that not many firms in the country doing years of business. Bithumb’s revenue has increased 171-fold compared to the previous year. The company’s earnings was released due to the fact Bithumb is a subsidiary of a publicly traded company called BTCKorea..
In just the past week, the global market cap of all cryptocurrencies has fallen close to US$70 billion. In that same period, Bitcoin (BTC) has fallen 20% from a local high of US$9,000 to its current p.
Through this extended downtrend, one coin being challenged heavily is Ethereum (ETH). Ethereum has been subject to massive bleed since its peak prices earlier in this year. Today, ETH is trading below.
Crypto markets have leveled off a little this morning, no further gains have been made but the good news is that they haven’t fallen again. Altcoins are a mixed bag, some in the green, others losing out a little, the one leading the way at the moment is Icon.
Bithumb, one of Korea’s largest exchanges with a daily volume of $881 million (97,220 BTC), has announced the listing of ICON (ICX), which is being called ‘Korean version of ETH’, to celebrate the launch of Bithumb PRO..
Bitcoin has remained steadily above $8,000 and is up 4.4% on the day, this has created confidence in the altcoins which are also enjoying positive price action this morning. Looking through the top 25 we can see a couple of contenders with double digit increases but Icon is performing the best at the time of writing..
A rising sun in Asia yielded some long awaited greenery on the crypto charts. This has been a sight for sore eyes after the past week of carnage. All altcoins are showing positive gains at last, Bitcoin leading the pack with a 15% rise in the past 24 hours..
As both cryptocurrency and blockchain technology become more and more mainstream, several projects are pioneering the push to incorporate this revolutionary tech into economies, markets, and industr