Bithumb Lists ICP, Network Achieves New Milestone

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As a researcher with experience in the cryptocurrency market, I find Bithumb’s announcement of listing Internet Computer (ICP) an intriguing development. The strategic move comes amidst upcoming regulatory changes in South Korea, which aims to increase transparency, security, and consumer protection within the crypto market.

As a researcher, I’d put it this way: ICP, a prominent digital asset with a market cap among the top 25 cryptos, has been announced for listing on Bithumb, South Korea’s second-largest cryptocurrency exchange.

As a crypto investor, I’m excited to share that I’ve learned the ICP/KRW trading pair is set to debut on my preferred exchange on June 12, 2024. This new trading option is a significant step in response to the broader trend among South Korean exchanges, where they’re hastening the addition of fresh coins to their platforms in preparation for upcoming regulatory changes.

As new cryptocurrency regulations approach in July, South Korean cryptocurrency exchanges are hurriedly broadening their services to conform with stricter regulatory requirements. The upcoming rules aim to bolster transparency, fortify security measures, and safeguard consumers in the digital currency marketplace.

The introduction of the ICP/KRW trading pair on Bithumb is intended to give users additional trading opportunities and boost market fluidity. Nevertheless, following this news, the value of ICP experienced a substantial decrease, falling by over 3% within the past 24 hours.

The 24th largest cryptocurrency by market capitalization, ICP, experienced a 11.21% decrease in trading activity, resulting in a daily volume of approximately $161 million. With a market value of around $4.74 billion, the digital asset reached a peak price of $10.50 within the last 24 hours but subsequently dropped to its current value of $10.20.

Individuals holding ICP have experienced substantial price drops throughout the years. The digital token reached its peak value of $750.73 in May 2021, but since then it has undergone a steep decrease of approximately 98.63%.

Over the past week, ICP‘s price dropped by 17.93%, and it continued to decrease by an additional 13.13% in the preceding month. Yet, the value of this cryptocurrency has surged by a substantial 179.11% since June 2023.

Internet Computer (ICP) Hits a Significant Milestone

As a crypto investor and technology enthusiast, I’m particularly excited about the potential of The Internet Computer (ICP). Developed by the Dfinity Foundation, this decentralized blockchain network aspires to expand the capabilities of the public internet by empowering it to host software and data without relying on conventional servers. By doing so, the protocol makes the internet more accessible and efficient for everyone. As a developer, I can create web applications and services that are fully decentralized, taking advantage of this innovative technology.

On social media platform X, which was previously called Twitter, Dfinity announced that over 2.5 million Internet Identities have been created using its ICP token.

As a crypto investor and user of the Internet Computer, I find it intriguing how Internet Identities function as my anonymous, decentralized online personas. With each Identity, I enjoy interacting with internet services in a secure and private manner without revealing my true identity. The cryptographic security ensures that my anonymity remains intact while I access various decentralized applications (dApps) on this innovative platform.

According to the ICP dashboard data, the burning rate for ICP tokens has been steadily increasing. A total of 168,141 ICP tokens have been burned so far, with a notable surge starting in 2021. In contrast, there have been a total of approximately 12.3 million ICP transactions recorded. However, the daily transaction volume falls short of expectation.

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2024-06-12 13:42