As an experienced analyst, I’ve closely followed the cryptocurrency market for years, and I’ve seen numerous listings and price movements that have shaped the industry. The recent surge in Data Ownership Protocol (DOP) following its listing on major exchanges like Bybit and Bitfinex is a noteworthy development that warrants attention.
The value of DOP, the native token for the Data Ownership Protocol zero-knowledge proofs platform, has surged by 75% over the last 24 hours following its addition to prominent cryptocurrency exchanges.
As a crypto investor, I’m excited to share that on Thursday, two major cryptocurrency exchanges, Bybit and Bitfinex, made an announcement that they would be supporting trading for DOP. This news sent the token’s price soaring, with it reaching above $0.0288.
In a recent announcement, Bitfinex revealed that deposits for DOP would become available at 12:00 pm UTC on July 4, 2024. Trade is predicted to begin on July 5, 2024 at 10:00 am UTC under the condition that certain liquidity prerequisites are fulfilled.
Commenting on the listing, Bitfinex head of tokens Henry Child, said:
As a dedicated researcher in the field of digital asset trading, I’m thrilled to announce that we’ve added Digital Asset X (DOP) to Bitfinex. From the very beginning, our goal has been to give our clients access to cutting-edge digital assets. It’s with great pleasure that we now offer you the chance to trade DOP on our platform.
Meanwhile Bybit plans to list on BybitSpot Adventure Zone on July 5 at 8:00 am UTC.
The Data Ownership Protocol team expressed in a recent post that $DOP’s launch on Bybit is a noteworthy advancement, serving as an initial move to highlight the unique characteristics of their protocol.
What is Data Ownership Protocol?
As a crypto investor, I can tell you that Data Ownership Protocol (DOP) is a decentralized solution built on the Ethereum network. With DOP, I have the power to manage my digital assets in a self-determined way. I get to choose which transactions are made publicly available for all to see and which ones remain private. This level of control ensures that I maintain ownership over my data and protects my privacy in the digital world.
The essential elements of this platform are an off-the-chain structure, the use of zero-knowledge proofs, and personally tailored blockchains.
DOP allows holders to pay transaction fees and to participate in the project’s governance.
DOP gains amid crypto bloodbath
Despite the crypto market experiencing significant downward pressure, causing Bitcoin to dip below $58,000 and Ethereum to approach $3,100, DOP managed to register gains. The overall market capitalization saw a 4.4% decrease in value within a 24-hour period, reaching a total of approximately $2.12 trillion. The majority of altcoins followed suit and mimicked the downward trend set by Bitcoin and Ethereum.
Bitcoins were heavily sold off as Mt.Gox conducted small-scale transfers of the cryptocurrency for testing purposes, in preparation for significant payouts to its creditors. Additionally, some analysts speculate that miner capitulation may be a contributing factor.
On Thursdays, a noteworthy occurrence involved a German government-linked wallet moving substantial amounts of Bitcoin to cryptocurrency exchanges. This wallet has offloaded millions of dollars’ value of the digital currency over the past few weeks.
On Thursday, Justin Sun, the founder of Tron, proposed an off-market purchase of Germany’s entire Bitcoin holdings from the government.
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2024-07-04 16:22