The South Korean gaming company WeMade has achieved a significant milestone with the listing of its WEMIX coin on the Gopax exchange. The successful listing came after a period of controversy surrounding the coin and its issuer. This article explores the details of the listing, the previous challenges faced by WeMade, and the potential impact of this development on the company and the cryptocurrency market.
In November last year, a self-regulating committee called the Digital Asset Exchange Alliance (DAXA) announced the delisting of the WEMIX coin. The committee, formed by South Korea’s leading exchanges including Upbit, Bithumb, Coinone, Korbit, and Gopax, claimed that there was a discrepancy in the circulation data provided by WeMade. This led to a significant setback for the coin and its issuer, resulting in the withdrawal of support from multiple exchanges.
Despite the challenges faced by WeMade, the Gopax exchange has recently started trading WEMIX pairs. This listing signifies a turning point for the company, as it opens up new opportunities for WEMIX to regain market support and credibility. Gopax’s decision to list the coin also holds importance due to its association with the DAXA committee, which had previously delisted WEMIX. WeMade is hopeful that this listing will influence other major exchanges like Upbit and Bithumb to reconsider their stance on the coin and potentially relist it.
The news of the Gopax listing had a positive impact on WeMade’s share prices. Following the official announcement, WeMade’s share prices on the Korea Exchange rose by nearly 23%. Similarly, the company’s affiliate firms, also listed on the Korea Exchange, experienced share price rises of approximately 23%. While WEMIX saw more modest price increases, briefly reaching the $2 mark, its all-time high of just under $25 occurred in late 2021, followed by a decline and relative stability since 2022.
Despite the setbacks faced in the domestic market, WeMade successfully secured several overseas listings for WEMIX. These listings brought renewed investor interest and led to a surge in prices when Coinone relisted the coin in February this year. With the recent listing on Gopax, WeMade is optimistic that the combination of domestic and international support will strengthen the future prospects of WEMIX.
The new domestic listing of the WEMIX coin on the Gopax crypto exchange marks a significant achievement for WeMade. Overcoming the challenges faced in the past, the company has persevered and secured support from multiple overseas listings. With the positive impact on share prices and the potential influence on other major exchanges, the future looks promising for WeMade and its WEMIX coin. As the cryptocurrency market continues to evolve, only time will tell if WEMIX can regain its previous heights and establish itself as a reliable and successful digital asset.
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