Bithumb Introduces HEMI on KRW Market with Trading Set for October 24

Bithumb, one of South Korea’s premier cryptocurrency exchanges, has announced the listing of HEMI on its Korean Won (KRW) market. Trading is scheduled to begin on October 24 at 7:30 PM local time. To ensure a secure start to trading, deposits and withdrawals for HEMI will open shortly after the announcement, allowing users to prepare their accounts. Transactions for HEMI will be conducted exclusively via the Ethereum (ETH) network, and deposits made through other blockchain networks will not appear in user accounts. This restriction underscores the need for investors to be vigilant to avoid asset loss.

Measures to Ensure Stable Trading: Temporary Restrictions and Protections

In an effort to create a stable trading environment and protect users from heightened price volatility often associated with newly listed digital assets, Bithumb has implemented temporary restrictions on trading activities. For the initial five minutes following the market launch, no buy orders will be accepted. Additionally, sell orders during this interval must adhere to a defined price range of -10% to +100% of the reference price. These constraints are designed to manage the early trading dynamics and reduce risks.

Further safeguards include limiting transaction types during the first two hours of trading. Only limit orders will be accepted during this period, preventing market orders and enabling greater control over price execution. These proactive measures reflect Bithumb’s commitment to mitigating risks and ensuring market stability as trading begins.

High Volatility Risks: Advice for Investors

The listing of new cryptocurrencies often introduces significant price fluctuations. A Bithumb spokesperson emphasized the importance of exercising caution, stating, "Newly listed cryptocurrencies typically exhibit high volatility, and investors must exercise extreme caution. We strongly recommend that potential investors thoroughly review the project's white paper and roadmap before making any investment decisions."

This advisory highlights the need for comprehensive due diligence. Investors should take time to understand HEMI’s underlying project fundamentals and technical details to make informed choices.

Compliance with Travel Rule Regulations Impacts Withdrawals

The HEMI launch aligns with the Travel Rule regulations, demonstrating Bithumb’s commitment to legal compliance and secure trading practices. However, trading participants must take note of possible limitations. Deposits and withdrawals to and from certain exchanges restricted by Bithumb may encounter obstacles. Investors are strongly encouraged to verify applicable restrictions and confirm trading conditions to avoid disruptions.

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