A few days ago, on May 2nd to be more precise, there was a very significant drop in the main token of the Wemix network, which is the next Wemix, along with the network's stable, the Wemix Dollar. According to what was reported on some news portals, one of the main reasons for this drop may have been the confirmation of the token's delisting from South Korean Exchanges. Come and find out more about the situation of the Wemix network, its tokens and why it is important to stay informed about all of this.
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[ENGLISH VERSION]
Wemix Situation
Before this issue of the delisting of Korean exchanges, the network was already coming from another previous problem which was the prolonged maintenance of its application/wallet, which made it impossible to transact network game tokens such as $CROW through the Wemix App. This led to a large accumulation of exchanges, which were no longer made throughout the maintenance period and which, when released, generated great selling pressure on the token.
Now, shortly after this situation, there was a notice of delisting the Wemix token from South Korean exchange platforms, due to concerns about the currency's data. The impact was so great that in a short period of time the token fell by more than 50% of its value. But in addition to the pressure on the price, there is also the whole issue of reputation being damaged, and that is their main market, since the games are always launched first in Korea and then go to the rest of the world. Furthermore, it is worth mentioning that even with the recent rise of Bitcoin, which usually moves altcoins upwards, the token was unable to recover.
Why is it important to follow the Wemix scenario for Web3 Games?
It is vitally important for players in the Wemix ecosystem to be aware of what is happening with the network as a whole, because games, in addition to having impacts on the micro, which are the updates and changes they undergo, are also impacted by the decisions of the network in which they are inserted. In this recent case of the delisting of the Wemix token from South Korean brokers, the $CROW token, which was already being impacted due to maintenance in the App, received a second impact on its price. You can see that it was trading close to $0.60 3 months ago, and with the maintenance and delay in returning to the $0.75 peg, it fell below $0.40.
After that, the company responsible for the game announced that it would be implementing changes to the economy to seek the return of CROW, which made the token leave $0.35 and progressively move towards $0.43. However, with the situation on May 2nd, the token received a new impact, reaching less than $0.30. This is not an isolated situation and shows us the importance of being aware of the scenario in which Night Crows, as well as other wemix web3 games, are inserted. They depend on the stability of several factors, not only the Wemix network, in order to grow.
