[Bitcoin Now] Staying Around 57 Million KRW... AMC and Altcoins Also Introduce Payment Methods

The specific implementation method is not disclosed

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The leading cryptocurrency Bitcoin remained around 57 million KRW. This is interpreted as sideways movement due to the absence of significant positive or negative factors. Meanwhile, the US theater chain AMC announced plans to adopt altcoins as a payment method.

According to the domestic cryptocurrency exchange Upbit, as of 5:42 PM on the 17th, Bitcoin recorded 57.41 million KRW, up 0.25% from the previous day. It has risen for four consecutive days since the 14th, but there has been little fluctuation after reaching the 57 million KRW level.

However, altcoins showed volatility. At the same time, ELF rose 25.59% from the previous day to 1,065 KRW. It even rose to 1,310 KRW at 4:08 PM that day. Following that, cryptocurrencies such as Golem, Civic, Polymath, and Hunt also increased by 11.65%, 8.23%, 7.27%, and 6.72% respectively compared to the previous day.

There were also quite a few altcoins that declined. Ardor, which had been rising since the 14th, recorded 458 KRW at the same time on this day, down 7.28% from the previous day. In addition, Tezos, Bitcoin Cash ABC, Argo, and IOST fell by 6.01%, 5.94%, 5.94%, 5.13%, and 4.67% respectively compared to the previous day.

Meanwhile, private companies adopting altcoins as a payment method are increasing. On the 16th (local time), Adam Aron, CEO of AMC, stated on Twitter, “By the end of this year, altcoins such as Ethereum, Litecoin, and Bitcoin Cash will also be accepted as payment methods for movie tickets.” AMC had announced last month during its quarterly earnings report that it would establish a Bitcoin payment system within the year.

AMC explained that the reason for building the Bitcoin payment system is that new individual investors want to enter the cryptocurrency market. However, it did not specify how it will handle cryptocurrencies received as payment or what system it will adopt.