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Wemade's Wemix token plunges 60% after South Korean exchanges announce delisting

Wemix, the cryptocurrency from South Korean Web3 game developer Wemade, dropped over 60% on Friday after local exchanges announced plans to delist the token for the second time.

Starting around 3 p.m. Friday in South Korea, the price of Wemix plummeted from $0.7225 to a low of $0.2757 in a matter of 15 minutes. It has since recovered to around $0.36 as of publication time, though it remained down 50% compared to the same time yesterday, according to CoinMarketCap data.

The plunge appears to have been triggered by a collective announcement from major local crypto exchanges regarding their decisions to delist the token from their platforms.

Wemade's Wemix token plunges 60% after South Korean exchanges announce delisting

Wemix, the cryptocurrency from South Korean Web3 game developer Wemade, dropped over 60% on Friday after local exchanges announced plans to delist the token for the second time.

Starting around 3 p.m. Friday in South Korea, the price of Wemix plummeted from $0.7225 to a low of $0.2757 in a matter of 15 minutes. It has since recovered to around $0.36 as of publication time, though it remained down 50% compared to the same time yesterday, according to CoinMarketCap data.

The plunge appears to have been triggered by a collective announcement from major local crypto exchanges regarding their decisions to delist the token from their platforms. 

https://www.theblock.co/post/352911/wemades-wemix-token-plunges-after-south-korean-exchanges-announce-delisting