Following major stake sale, Bithumb announces “Super Airdrop Festival” 25107
News
Aakash Athawasya
Oct 13, 2018 at 10:30 AM

Bithumb, the second largest exchange in the world according to adjusted volume and South Korea's largest cryptocurrency exchange is holding a “Super Airdrop Festival” to mark its 5th anniversary.

A majority stake in the exchange was sold to the Singapore based BTC Global consortium, led by a chief plastic surgeon and avid blockchain investor Kim Byung-gun on 12 October for 400 billion won ($353.64 million). Bithumb announced the airdrop in celebration of the recent acquisition.

Bithumb will regularly airdrop coins worth 100 million Won ($88,500) every day and investors who partake in this festival will be allowed to buy coupons and trade via the exchange.

This festival is only permitted to the top 300 traders, each operating with a different airdrop amount depending on the rank. The coupon cost amounts to 10000 won ($8.85) and the participants must trade for a minimum of 1 hour on the platform in order to qualify for the airdrop.

Earlier in March, Bithumb announced an ICON airdrop from 21 March to 25 March specifically for members who trade in excess of 1 million Won ($885). ICON, hailed as the “Korean version of the ETH” shot up massively during the airdrop period. On March 18 prior to the ICON airdrop, the altcoin was priced at $1.62 and in the ensuing four days, the price of the crypto rose by a whopping 158.64% to $4.19. The market cap of the coin was as low as $636 million on 18 March and rose by a staggering 143.7% by 23 March to reach $1.55 billion.

This month has been rather busy for the exchange, following the major deal with BK Global Consortium and the airdrop festival, the exchange has also added several cons to its trading services. Coins such as SALT [SALT], Raiden Network Token [REN], Enjin Coin [ENJ] and Primas [PST], Loom Network [LOOM] and BHP Cash [BHPC] were all added to Bithumb in the past few days.

See also: South Korea’s largest crypto exchange Bithumb sold for $354 million

See also: Bithumb next in line to launch decentralized exchange

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