- The broader cryptocurrency market shows strong signs of recovery, with one altcoin standing out remarkably.
- This token has surged nearly 30% today, continuing its noteworthy ascent from the past week.
- The significant price hike today is largely due to its recent listing on South Korea’s leading cryptocurrency exchange, Bithumb.
Discover how one altcoin’s listing on a major South Korean exchange propelled its price by 30% overnight, signaling a robust recovery in the cryptocurrency market.
Bithumb Lists Paycoin: A Game Changer for the Altcoin
Early this morning, Bithumb announced the addition of Paycoin to its platform, creating a buzz in the cryptocurrency community. Paycoin will be available exclusively in the Won Market, and only deposits through the Paycoin network will be supported. Deposits will open on July 15, 2024, between 17:00 and 18:00. Trading and withdrawal services are set to start later due to a necessary asset key change, and Bithumb plans to keep users updated through subsequent notifications.
The Immediate Impact of the Listing on Paycoin’s Price
Following the listing announcement, Paycoin’s market response was immediate and significant. Initially listed at a base price of 166 Korean Won, Paycoin’s value surged from $0.1116 to $0.1589, marking a dramatic intra-day increase. Although the price retracted slightly, it maintained a strong upward trajectory, trading at $0.1497 by the day’s end—a daily gain of 26.84% and a weekly gain of nearly 79%, according to CoinMarketCap.
Paycoin’s Growing User Base and Technological Strengths
Paycoin has been attracting a considerable user base, amassing over 100,000 traders. Launched in South Korea in 2019, Paycoin allows users to transact real-world products and services using digital assets. This platform offers faster payments and lower transaction fees compared to traditional payment methods. By leveraging blockchain-based smart contracts and virtual asset circulation structures, Paycoin provides an end-to-end payment solution that directly connects users and traders.
Paycoin’s Integration with Major Retailers
The wide acceptance of Paycoin among top retailers such as Domino’s, KFC, and 7-Eleven highlights its growing influence in the payment solution market. Paycoin’s adoption by these major players not only enhances its utility but also fosters greater liquidity and trading volume on platforms like Bithumb.
South Korea’s Crypto-Friendly Regulations
Another pivotal factor driving Paycoin’s recent performance is the South Korean government’s consideration to delay the implementation of crypto taxes by three years. South Korea, being one of the most active crypto trading markets, anticipates that this regulatory shift will inject significant liquidity into the market. As a result, cryptocurrencies like Paycoin could benefit substantially from this policy change, gaining more traction and stability.
Conclusion
In conclusion, Paycoin’s recent listing on Bithumb serves as a key catalyst for its price surge and increased market interest. Coupled with South Korea’s favorable regulatory environment, Paycoin is well-positioned for sustained growth. The combination of technological innovation, a robust user base, and strategic partnerships with major retailers fortifies Paycoin’s standing in the cryptocurrency landscape. Investors and traders should keep an eye on further developments as they navigate this dynamic market.
