WeMade, a leading South Korean gaming company, recently celebrated a milestone as its WEMIX coin secured a new listing on the domestic crypto exchange, Gopax. However, this success didn’t come without its challenges. In November last year, WeMade faced controversy when the nation’s self-regulating committee, the Digital Asset Exchange Alliance (DAXA), unilaterally delisted the WEMIX token. The committee, comprising the country’s major fiat won trading exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax, was formed in response to government pressure to streamline exchange policies.
One of the main issues leading to the delisting decision was a discrepancy in the reported circulation data of WEMIX. DAXA claimed that there was a difference between the number of WEMIX coins in circulation and the number disclosed by WeMade. The game maker, however, refuted these claims and managed to secure overseas listings for WEMIX, demonstrating its resilience in the face of adversity.
In February of this year, WeMade experienced a significant victory when Coinone decided to relist WEMIX. This move resulted in a surge in prices, bringing hope to the gaming firm. Now, with Gopax joining the ranks of exchanges listing WEMIX, WeMade hopes it can sway Upbit and Bithumb, the largest trading platforms in the nation, to reconsider their stance on the coin. The news of Gopax’s decision had an immediate impact on WeMade’s share prices, with its Korea Exchange-listed shares rising by nearly 23% upon the announcement. WeMade’s affiliated firms also experienced similar price surges.
While the recent developments have instilled optimism in WeMade and its investors, it’s important to note the volatile nature of the WEMIX coin. WEMIX reached its all-time high of just below $25 in late 2021. However, prices plummeted shortly after and remained relatively stagnant since 2022. Despite the challenges faced by WeMade and the WEMIX coin, the recent success on Gopax and Coinone has brought a glimmer of hope for the future.
As WeMade continues its journey in the crypto market, it must navigate the complexities of the industry. The delisting controversy taught valuable lessons about the importance of accurate circulation data and transparency. Moving forward, WeMade must prioritize maintaining open communication with the regulatory bodies and exchanges to rebuild trust and ensure the success of WEMIX. Additionally, continued efforts to secure listings on reputable exchanges will be crucial to expand the coin’s reach and attract more investors.
WeMade’s journey with the WEMIX coin has been a rollercoaster ride, with highs and lows that reflect the unpredictable nature of the crypto market. Despite setbacks, WeMade has shown resilience and determination to overcome challenges and secure listings on prominent exchanges. The recent listing on Gopax marks a significant step forward, bringing renewed hope for the future of WEMIX and the gaming giant WeMade. As the market evolves, only time will tell how WeMade and WEMIX will fare in an ever-changing landscape.
