DOP, the native token of the zero-knowledge proofs platform Data Ownership Protocol, has surged 75% in the past 24 hours following its listing on major crypto exchanges.

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

Bitfinex announced that 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, subject to liquidity requirements being met.

“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,” said Henry Child, Head of Tokens at Bitfinex.

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

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

What is Data Ownership Protocol?

Data Ownership Protocol (DOP) is a decentralized platform on Ethereum that allows users to maintain control of their digital assets by deciding which transactions to make public. Key features of the platform include:

  • Off-chain architecture
  • Zero-knowledge (ZK) proofs
  • Custom blockchains

Additionally, DOP holders can pay transaction fees and participate in the project’s governance.

DOP Gains Amid Crypto Market Downturn

DOP’s gains come at a time when the broader crypto market is under pressure, with Bitcoin dropping below $58,000 and Ethereum retreating to near $3,100. The total market cap fell 4.4% in 24 hours to $2.12 trillion, with most altcoins following the trend of top coins.

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

Notably, on Thursday, there were large BTC transfers to exchanges by a wallet linked to the German government, which has sold millions of dollars worth of Bitcoin in recent weeks.

Tron founder Justin Sun offered to purchase all of the German government’s Bitcoin holdings off-market on Thursday.

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