JAKARTA - The crypto market is experiencing a strong recovery, and one of the outstanding altcoins is Paycoin. Paycoin (PCI) prices jumped 25% today, reaching 0.16 US Dollars (around Rp2,592). Although it has risen 87.5% in the past week, there are two main reasons behind the spike in Paycoin prices today.
Today, crypto exchange Bithumb announced the listing of Paycoin crypto assets on their platform. Paycoin will be available exclusively in Pasar Won and support deposits only through the Paycoin network.
According to Coingape's information, the deposit will start on July 15, 2024, from 17:00 to 18:00 KST. Although trade and withdrawal will be delayed due to changes in asset keys, the initial listing on Bithumb will provide Paycoin with large liquidity.
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The South Korean government's decision to postpone the implementation of crypto taxes for another three years also affects the price of Paycoin. With South Korea as an active crypto market, this tax exemption will increase trading activity.
The Paycoin project allows users to launch real-life products and services using digital assets. Traders who use Paycoin benefit from fast settlements and lower transaction fees.
This platform connects users and traders through blockchain-based smart contracts. First launched in South Korea in 2019, Paycoin has been received by more than 100,000 traders, including Domino's, KFC, and 7-Eleven.
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