ICON surged more than 60% in less than half a day as South Korea’s incoming president Yoon Suk-yeol won election on Thursday morning.

See related article: Crypto investors are being wooed in South Korea’s tight presidential election

Fast facts

  • In a startup forum last December, Yoon minted his signature as a non-fungible token (NFT) on the ICON blockchain.
  • ICON’s price rose from around US$0.67 to US$1.0771, as ballot counting edged to a close at around 3 a.m. local Korea time. 
  • The conservative People’s Power Party (PPP) candidate, Yoon has included crypto-friendly policy promises in his campaign.
  • Yoon issued more than 4,000 NFTs recently on the Aergo blockchain to promote his campaign in the final week of the election.
  • The price of Aergo also experienced a surge of about 5% soon after the announcement of Yoon’s election, but has settled down to trade at US$0.25 at press time.

See related article: S.Korean presidential candidate issues over 22,000 NFTs