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CRYPTOMARKET

ICON Surges on Bithumb Airdrop Announcement

Bithumb, one of Korea’s largest exchanges with a daily volume of $850 million (94,000 BTC), has announced the listing of ICON (ICX), which is being called ‘Korean version of Ethereum’, to celebrate the launch of Bithumb PRO.

Bithumb Gives Away ICON to Celebrate Launch of Bithumb PRO
Through deliberation of Bithumb Cryptocurrency Deliberative Committee, the exchange is launching an ICON Airdrop from March 21 to March 25, 2018 exclusively for members who trade 1 million Won (KRW) or more within the event period. The reward date is scheduled on April 6, 2018.

The ‘Korean version of ETH’ will be distributed to market participants based on the sign-up period. Recent users, who joined the platform less than six months ago, will be rewarded with only 2 ICX. The number grows with seniority: 5 IXC for six months to one year; 10 ICX for one to three years; 20 ICX for more than three years using the exchange.

The airdrop amount is given upon one account per one mobile phone number. The exchange will only deliver the corresponding coin quantity after deducting 22% in taxes on amounts higher than 50,000 Won (KRW).

Additionally, Bithumb is offering a 1% payback on all ICX deposits and transactions during the same period. This event is for all Bithumb members who choose to deposit ICX, which is only available in Bithumb Pro at the moment. The event may expire without prior notice on cashback exhaustion. The amount is paid based on whatever is smaller among deposit and traded amounts. Moreover, rewards are capped at 50,000 ICX.

ICON ranks #20 on coinmarketcap.com, with a market cap of US$1.3 billion (146,939 BTC) and a daily volume of US$154 million. The altcoin has a circulating supply of approximately 386 million ICX from a total supply of 400 million ICX. Binance is by far the cryptocurrency exchange where most ICON is traded.

On account of the announcement made by Bithumb, demand for ICON skyrocketed in the last 24 hours. The ICX is up over 45 percent as it trades at $3.20, at the moment of writing. The trading volume of the cryptocurrency picked up since early European morning, from US$ 53 million to US$ 160 million, in approximately four hours.

ICON, Korea’s new currency, was launched by DAYLI Financial Group, on September 20, 2017. The company also announced the listing on Bithumb:

CX Token is listed on Bithumb Exchange today!
You can buy and sell ICX Tokens freely on the Bithumb Exchange.
(Listing time may be adjusted depending on market conditions.)

Bithumb users are cheering the listing as ICON will now be traded in Korea. The ICON airdrop events are scheduled to end on March 25, 2018.

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