NEM’s XEM tokens experienced some increased volatility recently after being listed in South Korea’s biggest cryptocurrency exchange, Bithumb.
In an exclusive interview with Bitpinas, NEM Philippines head Emerson Fonseca expressed he and his team’s enthusiasm on the new exchange listing. As Bithumb is one of the biggest exchanges in terms of trading volume, the listing added more exposure and credibility to NEM.
“It adds market exposure for NEM because traders in Bithumb can now acquire XEMs in the exchange itself, and it also adds credibility with the public that we are listed again.” – Mr. Emerson Fonseca, NEM Philippines, Head
Mr. Fonseca also said that not all traders are registered to all exchanges. There are people like him who only joined a few. As such, if a user is only registered at Bithumb, it allows that user to purchase XEM without trying to register to other exchanges.
With the Bithumb listing, Mr. Fonseca reminded traders to take precaution when sending XEM to the exchanges from the NEM Nano Wallet.
“Do not forget the “message” linked on a Crypto Exchange. All exchanges have the same NEM address and they only differ on the “unique message” that will identify as to which exchange the tokens will get sent.”
Bithumb is celebrating the new addition of the token with a listing commemoration event. The event targets traders who will trade Aeternity (AE) or New Economy Movement (XEM) and will give 1% payback on all AE or XEM deposit and trades. It will run from June 7, 2018 to June 13, 2018. For more details, you can check Bithumb’s official post.
Update: NEM has also been listed on Singapore’s Bcoin.sg.
* Currently, NEM has the largest trading volume on Korea’s UPbit with $11.1 million XEM/KRW trades. This is followed by Zaif from Japan with $7.3 million XEM/JPY trades, and Binance from Hong Kong with $5.3 million XEM/BTW trades.
*Data is from coinmarketcap.