South Korean crypto-friendly candidate Yoon’s win at presidential election drives an ICX boost

ICX, The native token of the South Korean public chain ICON surged as much as 70% when pro-crypto candidate Yoon Suk-Yeol won the presidential election after a tough competition.

His victory in the election brings new opportunities for the growth of crypto market in the country as he promised many crypto-related changes during his election campaign focusing more on games, NFTs, and the metaverse.

Project is the largest blockchain project in South Korea that is intended to facilitate the interaction of different blockchains and it was on the most top performers back in 2017 but lost the value afterward.

ICX jumped up 70% on Thursday Source: Tradingview

ICON’s ICX soared 70%:

South Korean native token ICON’s ICX surged up as much as 70% on Thursday as the news of a new crypto-friendly elected president came out. It jumped from Wednesday’s low of $0.61 to $1 on Thursday morning but it is still 92% low as compared to its highest value of $13 back in 2018.

Yoon Suk-Yeol, the country’s top prosecutor will be the new president. Back in 2021 Yoon famously minted his signature on the blockchain forever linking Yoon and ICX. 

The Crypto community is very excited in the country due to Yoon’s favorable policies regarding digital assets. During his election campaign, he stated that he will focus to deregulate cryptocurrencies once he wins the elections.

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About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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