Binance US Opens Door to South Korean Blockchain ICON (ICX)

In less than 24-hours after releasing a list of exploratory cryptocurrency projects to be considered for the Binance.US marketplace, the crypto exchange giant officially announced the listing of two new digital assets. One of them being the South Korean blockchain project ICON (ICX).

The ICX/USD trading pair will open on December 12th, 2019, at 9:00pm EST / 6:00pm PST. Users can start depositing ICX in preparation for trading.

The ICX token was listed on Binance since 2017 but was shortlisted from the US branch of the exchange following its initial launch in September.

ICON Making Strides in Mainstream Adoption

ICON’s parent company ICONLOOP has recently made national news in South Korea for a new type of blockchain identification service called MyID which is expected to be launched in 2020. It is set to radically improve and expand the way people and businesses use authentication in their day to day lives. 

The Impact of Binance.US Listing ICX

Though it has only been in operation since September, according to data provided by CoinGecko, Binance.US managed to become the 15th largest crypto exchange by trading volume in just a few months.

Binance.US is a cryptocurrency exchange located in the United States. It currently has a 24-hour trading volume of 566.73 BTC ($4,039,227) from 26 coins and 46 trading pairs. 

The exchange currently supports the following digital currencies: Bitcoin (BTC), VeChain (VET), Binance Coin (BNB), Qtum (QTUM), Ethereum (ETH), XRP (XRP), Litecoin (LTC), Bitcoin Cash (BCH), Cosmos (ATOM), Cardano (ADA), Basic Attention Token (BAT), Ethereum Classic (ETC), Stellar (XLM), Dogecoin (DOGE), Neo (NEO), Algorand (ALGO), 0x (ZRX), Chainlink (LINK), Zcash (ZEC), Dash (DASH), IOTA (IOTA), Ravencoin (RVN).

The most-traded pairs in the last 24 hours were BTC/USD, QTUM/USD, USDT/USD and BTC/USDT, accounting for 57,8% of all trading volume at the exchange. 

Other trading combinations were ETH/USD, WAVES/USD, BUSD/USD VET/USDT, ALGO/USD and XRP/USD. These pairs represented 21% of the total trading volume at the exchange. 

In terms of volume by currency, USD has been the dominant currency with 76.9% of the market in the last 24 hours. At the same time, 19.7% of the volume during the same period was traded against USDT. Just 2.2% was traded against BTC. 

In the United States, the Binance.US platform is operated by BAM Trading Services a local company that is working to be compliant with local regulations. 

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