Web3 Altcoin Soars 67% on Wallet Update, Partnership, and Relisting
A web3 altcoin, ranked in the top 100, has experienced a remarkable surge of over 67% in value this week. This surge can be attributed to several key factors including a wallet update, a new partnership, and a relisting on a major Korean exchange.
The altcoin in question is WEMIX, which is developed by Wemade, a South Korean video game developer. WEMIX aims to establish a web3 ecosystem that focuses on experience-based services.
The native token of the project is currently trading at $3.91, up from $2.34 just one week ago. It is also up by more than 22% within the past 24 hours. Despite these recent gains, WEMIX remains significantly down by over 84% from its all-time high of $24.71 reached in November 2021.
New Partnership with Dubai International Financial Centre’s Innovation Hub
On Tuesday, Wemade announced a strategic partnership with Dubai International Financial Centre’s Innovation Hub. The collaboration aims to develop a web3 gaming community centered around WEMIX. Additionally, the partnership plans to raise a $100 million web3 gaming fund to support developers, studios, and entrepreneurs within the industry.
Wallet Update and Relisting on Korbit Exchange
The following day after the partnership announcement, WEMIX PLAY, the project’s blockchain gaming platform, released an updated wallet with enhanced features.
Furthermore, WEMIX was relisted on the South Korean exchange Korbit on Wednesday after being removed from the exchange’s trading services in November 2022. Korbit had cited insufficient or incorrect information provided by WEMIX as reasons for the delisting. However, the exchange has acknowledged that these issues have been rectified.
Hot Take: WEMIX Gains Momentum with Key Developments
Despite its significant decline from its all-time high, WEMIX has experienced a surge in value driven by recent developments. The altcoin’s wallet update, partnership with Dubai International Financial Centre’s Innovation Hub, and relisting on the Korbit exchange have contributed to its positive momentum. These developments highlight the project’s commitment to building a web3 gaming ecosystem and supporting developers within the industry. As WEMIX continues to make progress and gain recognition, it will be interesting to see how it further establishes itself in the competitive crypto market.
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