Paycoin, a well-known cryptocurrency, has recently been relisted on several major Korean exchanges, resulting in an impressive 80% increase in its price over the past week.
At the time of writing, the price of Paycoin (PCI) soared over 80%, reaching a high of $0.207. As per the data of CoinGecko, the market cap value has reached $224 million and the 24-hour trading value has reached up to %25 million.
The price surge has come after the relisted of Paycoin on major crypto exchanges like Korbit and Coinone.
Bithumb, revealed earlier today that Paycoin has been listed on its platform. The cryptocurrency will only be accessible on the Won Market and will accept Paycoin network deposits.
The deposit window is scheduled to open on July 15, 2024, between 5:00 and 6:00 PM KST. Due to a change in the asset key, trading and withdrawals will not begin as soon as previously planned. Bithumb intends to notify users via future alerts of the updated schedule.
Paycoin will be traded on Bithumb at a base price of 166 won initially. It is anticipated that Paycoin will have high liquidity following its listing on a major exchange. Strong investor interest is evident in the 80% price increase that has already occurred over the previous week as a result of the relisting.
Paycoin has relisted after resolving prior compliance difficulties and receiving regulatory permission. Investors now feel more confident about the legitimacy and potential of the token.
Another significant driver of the current Paycoin price increase is the South Korean government’s consideration of postponing the implementation of a crypto tax for an additional three years. This move would introduce significant liquidity into the market, as South Korea is one of the cryptocurrency marketplaces with the highest volume of trading.
Additionally, Mobillet, a Japanese fintech startup, launched the Paycoin Global App for global payments with PCI (Paycoin), featuring a non-custodial wallet. They’re entering Japan this month, focusing on regulatory compliance and partnerships.
Paycoin facilitates digital asset transactions, providing fast settlements and lower fees through blockchain smart contracts. Launched in South Korea in 2019, it has onboarded 100,000+ merchants including Domino’s, KFC, and 7-Eleven.
Also Read: South Korea Launches Real-Time Crypto Surveillance System
