According to Upbit, South Korea’s Digital Asset eXchange Association (DAXA) categorized the WEMIX token as a risky investment on October 27 after discovering that the token’s circulation statistics were incorrectly transmitted.
WEMIX is used across Wemade’s blockchain ecosystem, particularly in its worldwide gaming platform. According to CoinMarketCap, its price dropped by 32% after the four exchanges issued the investment alert.
Wemade explained that it made a mistake by excluding the issuance of WEMIX tokens, which are used to supply liquidity for its blockchain mainnet, for deposits in making loans, and for expanding and managing the ecosystem, and that they did not believe tokens that are not currently in circulation should be included in the estimate.
According to the notification, Wemade will tighten its disclosure mechanism to publish information before expanding circulation. It will commit its token holdings to a third-party custodian for more predictability and transparency.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…
Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…
Willemstad, Curaçao, 4th November 2024, Chainwire
London, UK, 4th November 2024, Chainwire
November is the perfect time for BlockDAG's huge presale. Use BDAG100 to double your purchase.…
OpenSea new version is scheduled to launch in December, with an improved user experience, improved…
This website uses cookies.