South Korean Presidential aspirant, Yoon Suk-Yeol, has won the country’s top job causing ICON’s ICX token to rally 60% before retracing to around 40% gains.
Digital assets took center stage in the presidential debate, with rival candidates launching campaign-related NFTs.
The conservative candidate Yoon promises to deregulate the country’s digital asset sector, winning the support of the young populace.
The new leader wants to create blockchain tech-related startups that will grow more than $1 billion in valuation in his term.
The cryptocurrency enthusiasm among the contesting parties was a deviation from President Moon Jae-In’s unfavorable policies in the sector.
Yoon publicly created his signature on the ICON blockchain in December 2021 in a publicized event that popularized the token amid a lack of regulatory framework in the sector.