DOP token skyrockets after listing on Bybit, Bitfinex

DOP, the native token of zero-knowledge proofs platform Data Ownership Protocol, has jumped 75% in the past 24 hours after the token’s listing on major crypto exchanges. 

On Thursday, crypto exchanges Bybit and Bitfinex announced trading support for DOP. The token’s price rose sharply to reach above $0.0288.

Bitfinex announced deposits for DOP would open at 12:00 pm UTC on July 4, 2024, with trading expected to commence on July 5, 2024 at 10:00 am UTC. This will however be subject to “liquidity requirements being met,” the Bitfinex team wrote in a blog post.

Commenting on the listing, Bitfinex head of tokens Henry Child, said:

“Listing DOP on Bitfinex aligns with our commitment to providing our customers with access to innovative digital assets from day one. We are pleased to offer our customers the opportunity to trade DOP on our platform.”

Meanwhile Bybit plans to list on BybitSpot Adventure Zone on July 5 at 8:00 am UTC.

 “$DOP’s debut on Bybit is a significant development, but still marks the first step in a broader push to raise awareness about our protocol’s distinctive attributes,” the Data Ownership Protocol team explained in a post on Thursday.

What is Data Ownership Protocol?

Data Ownership Protocol (DOP) is a decentralized platform on Ethereum that allows users to remain in control of their digital assets by deciding which transactions to make public.

The platform’s key features include off-chain architecture, zero-knowledge (ZK) proofs, and custom blockchains.

DOP allows holders to pay transaction fees and to participate in the project’s governance.

DOP gains amid crypto bloodbath

DOP’s gains came as most of the crypto market suffered downside pressure, with Bitcoin dropping below $58,000 and Ethereum retreating to near $3,100. Overall, the total market cap fell 4.4% in 24 hours to $2.12 trillion as most altcoins mirrored the top coins.

The sell-off for Bitcoin increased as Mt.Gox transferred small amounts of BTC as tests ahead of major repayments to creditors. Analysts have also pointed at potential miner capitulation.

Also notable on Thursday was the large BTC transfers to exchanges by a wallet linked to the German government. The wallet has sold millions of dollars worth of Bitcoin in recent weeks.

On Thursday, Tron founder Justin Sun to offer to purchase all of the German government’s bitcoin holdings off-market.