Wemix Resumes Trading on Coinone... WEMADE Stock Soars

Trading Resumed Two Months After Delisting

[Asia Economy Reporter Seungjin Lee] Wemade's cryptocurrency 'Wemix' is being relisted on Coinone, one of the top five domestic exchanges. This comes two months after its delisting.

On the 16th, Coinone announced, "Wemix has implemented corrective measures to resolve the issues that led to its designation as a cautionary item," adding, "We have gathered the relevant materials and applied for a trading support review at Coinone."

They further explained the reason for relisting, stating, "Upon review, it was confirmed that the problems related to circulation volume violations, information provision, and trust damage that occurred during the previous trading support have been resolved."

Wemix was designated as a cautionary item on October 27 last year due to concerns over the reliability of circulation volume plan information. Although a clarification process was undertaken to resolve these issues, the 'Digital Asset Exchange Joint Council (DAXA),' composed of the five major domestic virtual asset exchanges?Upbit, Bithumb, Korbit, Coinone, and Gopax?decided on November 24 of the same year to terminate trading support (delisting) for Wemix, which was finalized on December 8.

Following Wemix's relisting, Wemade Group stocks surged sharply on the day. As of 2 p.m., they were trading at 54,800 KRW, up 12,600 KRW (29.9%) from the previous day.

Coinone announced that selling will be allowed from 6 p.m. on the same day, and buying will be permitted from 6:05 p.m.

Meanwhile, Wemade stated regarding the relisting, "We will continue to make efforts to list on domestic and international exchanges." Additionally, a company representative said, "We plan to withdraw the lawsuit filed against Coinone concerning the decision to terminate trading support after consulting with our legal counsel."