ICX, the native token of the South Korean blockchain ICON, is up some 30% in the last 24 hours and is trading at $0.881 at the time of press. This move came after the election of crypto-friendly conservative South Korean Presidential candidate Yoon Suk-yeol. In a crypto-heavy election cycle, Yoon and the other major candidate both released campaign-related non-fungible tokens, and Yoon promised to undo his predecessor’s crypto-regulations. Last December in a televised event, Yoon minted his signature using the ICON blockchain.
ICON is an aggregator chain for decentralized applications. ICX surged 60% in the hours following his election, but has since corrected to a 40% gain.