One of the thickest names when it comes to the world of cryptocurrency exchanges, South Korea based Bithumb has just announced plans to launch their own cryptocurrency token – the Bithumb Coin. Bithumb launching a coin will not be the very very first such incident of an exchange launching its own cryptocurrency. Ter the past, wij have seen Binance with the BNB tokens and KuCoin with the KCS cryptocurrency tokens.
Considering that Bithumb&rsquo,s stulp country of South Korea has banned ICOs, the company is expected to colchoneta this ICO ter Singapore. This is something that a number of South Korea based companies have bot doing for their ICOs everzwijn since the nation banned ICOs last year. Spil of this writing, Bithumb is the fifth largest cryptocurrency exchange ter the world, having traded $1.Two Billion overheen the past 24 hours.
&ldquo,Wij know that the Bithumb coin is underway at a circunscrito subsidiary acquired by Bithumb&rsquo,s subsidiary,&rdquo, a person associated with Bithumb has reportedly stated to circunscrito media outlet Econotimes. &ldquo,Details such spil the specific schedule and kwestie size have not bot confirmed.&rdquo,
Spil stated above, various cryptocurrency exchanges ter the past have issued their own cryptocurrency tokens – with BNB and KCS being the most extraordinario examples. BNB tokens can be used to buy other cryptocurrencies spil there are a number of BNB trading pairs available on Binance. KCS works on a different monster – spil it prizes those who simply hold the currency! It would be interesting to see how Bithumb propositions their currency spil.
Overheen the past few months, wij have seen a fresh trend emerge te the ICO markets – ICOs are leisurely moving towards institutional investors rather than depending on individual investors. The Telegram ICO wasgoed a latest example of this shift te the trend. It is expected that the Bithumb ICO too might take a similar route. Interestingly, another cryptocurrency exchange operating ter the East Asian markets, Huobi, too is working on plans to launch their token – the Huobi Token, which will be an Ethereum based cryptocurrency.
South Korea is one of the largest names when it comes to cryptocurrency adoption spil a significant percentage of the population of South Korea has invested te cryptocurrencies. Despite the fact that there have bot some major controversies – such spil the government banning ICOs and rumours of a verbod on crypto-exchanges te the nation earlier this year – things emerge to have calmed down and the markets proceed to be crypto-friendly.
Spil of now, there are limited details available on when the Bithumb coin cryptocurrency may come out, spil well spil the purpose that it solves. The Bithumb cryptocurrency exchange has bot around for fairly some time and has bot controversy-free for a majority of its run. Last year, however, the exchange wasgoed hacked and billions of dollars worth of Korean Won were syphoned off from the exchange, along with gegevens of overheen 31,000 users. The exchange has since ramped up their security standards and resumes to be a leading name globally! It will be interesting to see how the arrival of the Bithumb Coin impacts the exchange.