{"id":11408,"date":"2023-11-09T00:35:49","date_gmt":"2023-11-09T00:35:49","guid":{"rendered":"https:\/\/infundpros.com\/markets\/crypto\/wemades-controversy-hit-coin-wins-south-korea-listing\/"},"modified":"2023-11-09T00:35:51","modified_gmt":"2023-11-09T00:35:51","slug":"wemades-controversy-hit-coin-wins-south-korea-listing","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=11408","title":{"rendered":"WeMade\u2019s \u2018Controversy-hit\u2019 Coin Wins South Korea Listing"},"content":{"rendered":"<div>\n<figure id=\"attachment_128454\" aria-describedby=\"caption-attachment-128454\" style=\"width: 1500px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-128454\" class=\"wp-caption-text\">Source: terovesalainen\/Adobe<\/figcaption><\/figure>\n<p>The South Korean gaming behemoth WeMade has scored a success by securing a new domestic crypto exchange listing for its WEMIX coin.<\/p>\n<p>Per Chosun Ilbo, the Gopax exchange began trading in WEMIX pairs from 5pm KST on November 8.<\/p>\n<p>Controversy struck for the coin and its issuer in November last year, with a self-regulating committee comprising the nation\u2019s five fiat won trading exchanges later announcing the token\u2019s unilateral delisting.<\/p>\n<figure id=\"attachment_128455\" aria-describedby=\"caption-attachment-128455\" style=\"width: 1192px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-128455\" class=\"wp-caption-text\">WEMIX prices over the past seven days. (Source: CoinGecko)<\/figcaption><\/figure>\n<p>The committee, officially known as the Digital Asset Exchange Alliance (DAXA), consists of the market-leading exchange Upbit, as well as rivals Bithumb, Coinone, Korbit, and Gopax.<\/p>\n<p>It launched in mid-2022 in response to government pressure, and in the wake of the Terra\/LUNC \u201ccrisis\u201d of May the same year.<\/p>\n<p>Ministers had complained that listing and delisting decisions were made arbitrarily by individual exchanges, and called for exchanges to streamline their policies.<\/p>\n<p>Gopax has not previously listed WEMIX, but Upbit, Bithumb, Coinone, and Korbit all simultaneously withdrew support for the coin on December 8 last year.<\/p>\n<p>DEXA said at the time that it was responding to misreported circulation data from WeMade.<\/p>\n<p>The body claimed that there was a discrepancy between the number of WEMIX coins in circulation and the number of tokens disclosed by the firm.<\/p>\n<p>The game maker disputed the claims, and was successful in securing several overseas listings for WEMIX.<\/p>\n<p>In February this year, the game maker scored a victory when Coinone decided to relist WEMIX, leading to a surge in prices.<\/p>\n<figure id=\"attachment_128458\" aria-describedby=\"caption-attachment-128458\" style=\"width: 1830px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-128458\" class=\"wp-caption-text\">One-month trading volumes on the crypto exchange Gopax. (Source: CoinGecko)<\/figcaption><\/figure>\n<h2>Will Other South Korean Exchanges \u2018Relist\u2019 WeMade\u2019s WEMIX Token?<\/h2>\n<p><span class=\"replacer\"><\/span><br \/>WeMade will hope Gopax\u2019s decision can help sway Upbit and Bithumb, the nation\u2019s largest trading platforms.<\/p>\n<p>The gaming firm\u2019s share prices were buoyed by the news, with WeMade\u2019s Korea Exchange share prices rising by just short of 23% after Gopax\u2019s official announcement.<\/p>\n<p>The company\u2019s Korea Exchange-listed affiliate firms also saw share price rises of around 23%.<\/p>\n<p>Meanwhile, WEMIX saw more modest climbs, returning briefly to the $2 mark.<\/p>\n<figure id=\"attachment_128459\" aria-describedby=\"caption-attachment-128459\" style=\"width: 958px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-128459\" class=\"wp-caption-text\">WeMade\u2019s three-month share prices on the Korea Exchange (in KRW). (Source: KOSDAQ\/Naver)<\/figcaption><\/figure>\n<p>The coin\u2019s all-time high of just under $25 was recorded in late 2021, with prices falling shortly after and remaining relatively stagnant from 2022 onward.<\/p>\n<p>WeMade is most famous for its <em>Legend of Mir<\/em> MMORPG series, but in recent years has attempted to reposition itself as a major force in East Asian blockchain gaming.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/gaming-giant-wemades-controversy-hit-token-relisted-in-south-korea.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: terovesalainen\/Adobe The South Korean gaming behemoth WeMade has scored a success by securing a new domestic crypto exchange listing for its&#8230;<\/p>\n","protected":false},"author":1,"featured_media":11409,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[],"class_list":{"0":"post-11408","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>WeMade\u2019s \u2018Controversy-hit\u2019 Coin Wins South Korea Listing | inFundPros<\/title>\n<meta name=\"description\" content=\"Source: terovesalainen\/Adobe The South Korean gaming behemoth WeMade has scored a success by securing a new domestic crypto exchange 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