In the course of recent hours, in the wake of showing an exceedingly unpredictable week, the cryptocurrency market has been able to maintain the $350 billion area, as leading cryptocurrencies including bitcoin have not gone through any significant change.
Cryptocurrencies in the international market all through February and March, have gone through great price fluctuations, going here and there 20 to 30 percent within a day. Bitcoin for example, has dropped from $14,000 to $6,000, rise to $11,600, dropped to $7,000, and recouped to $9,000.
Before this time of significant instability, the cryptocurrency market has been able to maintain some stability, on the basis that the market does not go through any significant change in a two days period. A few tokens like ICON (ICX) and Storm have gone through 40 percent increases because of trade postings, yet other than these two currencies, most cryptocurrencies are still holding to their prices from March 20.
Investors have additionally begun to express some positive thinking and excitement towards the market after the underlying recuperation from $6,000. investors in the tech and fund sector including Twitter CEO Jack Dorsey, wealthy investors Tim Draper, and Alan Howard shared a comparative opinion in saying that cryptocurrencies like bitcoin could turn into the worldwide reserve money.
ICON, otherwise called the Ethereum of South Korea, has recorded a 60 percent increase up on March 21, and another 40 percent rise in price on March 22.
Recently, South Korea’s biggest cryptocurrency investment trade Bithumb recorded ICON, promoting its airdrop drive. Very quickly after the listing of ICON on Bithumb, the price of ICX increase over 60 percent, as huge volumes from the local market were designated to the ICON trade market.
Prior today, Upbit, which is the second largest cryptocurrency trading platform in South Korea listed ICX. As a digital currency which only trades in the local market, Upbit is famous among proficient cryptocurrency investors and newcomers that are with the intention of investing in cryptocurrencies that are not recorded on digital currency to-fiat trades like Bithumb and Korbit.
The cryptocurrency market generally speaking is in a superior position than it was recently, as far as valuation, volume, demand, and media coverage. In locales like Japan and South Korea, premiums have sprung up once again, with South Korea showing a 4.6 percent premium for bitcoin.