Launched in September 2017 as an Initial Coin Offering (ICO), the ICX token quickly raised $43 million (about $330 million). According to CoinMarketCap, its current circulating supply has grown to over 734 million ICX coins and has a market cap of $668 million (approximately Rs 5,100 crore).
The new President of South Korea, Yoon Suk-yol, signed off on the ICON blockchain in December last year. His election as President seems to have driven up the price of ICX.
Elements of the cryptocurrency space have played an important role in South Korea’s election debate, where both candidates campaigned to attract voters with non-fungible tokens. [NFT] were issued.
The cryptocurrency sector is on its second nationwide boom in South Korea since 2018, according to South Korean newspaper Hankyung, with more than two million citizens trying their hand at the sector.<!–
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