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Did Kakao Token Listing Spark Rise in Coinone’s Popularity?

Did Kakao Token Listing Spark Rise in Coinone’s Popularity?

Supply: Adobe/syahrir

Main South Korean crypto exchanges are experiencing an increase in consumer numbers and buying and selling volumes, with some satisfied that the itemizing of Kakao’s klay (KLAY) token has helped propel a pointy rise in visitors to the Coinone buying and selling platform.

In response to media outlet TechM, statistics launched by Massive Information agency Cellular Index confirmed that as of September 9, Coinone’s Android consumer numbers stood in extra of 80,000. The identical media outlet said that if iOS customers had been to be added, the variety of South Korea-based Coinone customers was estimated to be over 100,000. Coinone’s mixed lively consumer base in March was round 40,000.

TechM said that the change has now cornered round 10% of the whole home market. And per CoinMarketCap information, Coinone is presently positioned 12th on the planet by way of 24-hour quantity, posting over USD 105m on Thursday. Whereas CoinGecko ranked the platform as 23rd with USD 132m in buying and selling quantity.

Kakao’s KakaoTalk chat app, which has an lively month-to-month consumer base of some 50 million folks – the overwhelming majority of whom are based mostly in South Korea – this yr added a crypto pockets tab perform to its app interface.

Kakao operates the Klaytn blockchain community, whose native klay token was unlisted in South Korea till Coinone determined to checklist it again in June.

The transfer, reported Korea Occasions again in late June, was unsanctioned by the Kakao blockchain subsidiary Floor X, and “aggravated” the chat app operator.

Regardless, observers consider the transfer has sparked a brand new wave on curiosity in Coinone – notably within the wake of klay promotional giveaway occasions held earlier this yr.

KLAY value chart:

Did Kakao Token Listing Spark Rise in Coinone’s Popularity? 102
Supply: coingecko.com

Nevertheless, latest information additionally confirmed renewed momentum for different main exchanges. Regardless of a police probe into suspected managerial wrongdoings, market chief Bithumb skilled a climb of virtually 57% in 24-hour buying and selling volumes, additionally per CoinMarketCap information – and was fifth within the world rankings on Thursday (eighth on Coingecko).

Upbit, which ranks ninth on CoinMarketCap and seventh on Coingecko, has additionally been attracting a brand new lease of curiosity from crypto customers within the nation after it introduced the launch of a brand new DeFi index service on Wednesday, reported Fn Information.
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Be taught extra: 50 Million-user Chat App KakaoTalk Launches Crypto Pockets

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