WeMade Secures New Domestic Crypto Exchange Listing for WEMIX Coin
The South Korean gaming giant WeMade has achieved a significant milestone by obtaining a new domestic crypto exchange listing for its WEMIX coin. The Gopax exchange started trading in WEMIX pairs from 5pm KST on November 8, marking a positive development for the coin and its issuer, WeMade.
Controversy Surrounding WEMIX Coin
However, last year saw controversy for the WEMIX coin and its issuer, with a self-regulating committee consisting of the nation’s five fiat won trading exchanges announcing the token’s delisting. This move was made after a discrepancy was reported regarding the number of WEMIX coins in circulation and the number of tokens disclosed by the firm. This led to several major exchanges withdrawing support for the coin, including Upbit, Bithumb, Coinone, and Korbit.
The Digital Asset Exchange Alliance (DEXA), formed by the leading market exchanges in response to government pressure, acted on the misreported circulation data from WeMade. As a result, WeMade faced delisting of the WEMIX coin amid the controversy.
WeMade’s Success in Securing Listings
Despite the controversy at home, WeMade was successful in securing overseas listings for WEMIX, demonstrating its resilience and determination to keep the coin viable in the market. In February this year, WeMade achieved a victory when Coinone decided to relist WEMIX, leading to a surge in prices.
Gopax’s Decision and Share Price Impacts
With Gopax’s decision to list WEMIX, WeMade is hoping to convince Upbit and Bithumb, the country’s largest trading platforms, to reconsider their support for the coin. The news regarding Gopax’s listing of WEMIX positively impacted WeMade’s share prices. WeMade’s Korea Exchange share prices saw a significant increase after Gopax’s official announcement, with WeMade’s Korea Exchange-listed affiliate firms experiencing similar share price rises.
WEMIX Price and WeMade’s Share Performance
The WEMIX token saw modest climbs in its price, briefly returning to the $2 mark after Gopax’s listing announcement. In contrast, WeMade’s three-month share prices on the Korea Exchange showed a significant spike, indicating renewed investor confidence in the company.
Future Prospects for WeMade and WEMIX
WeMade, best known for its Legend of Mir MMORPG series, continues its efforts to establish itself as a major player in East Asian blockchain gaming. With the recent developments surrounding WEMIX and the positive performance of WeMade’s share prices, the future looks promising for the gaming firm and its cryptocurrency. As WeMade continues to navigate its way through challenges, the successful listing on Gopax is a notable step forward for the company and its WEMIX coin.
