South Korea’s leading cryptocurrency platform Bithumb announced the addition of Cat in a Dog’s World (MEW) to its KRW market. This move offers users new trading opportunities and significantly expands Bithumb’s diverse cryptocurrency portfolio. Following the development, MEW’s price increased by 25%, as shown in the graph below.
Details of the MEW Listing
Cat in a Dog’s World (MEW) will be available for trading on the Wonhwa Market and will use the Solana network for deposits only. Bithumb reminded users that deposits through other networks are not supported.
The deposit window will open on June 7, 2024, at 15:30, and trading and withdrawals will start at 18:00 on the same day. The reference price for MEW is set at 6,053 KRW, requiring 20 deposit confirmations.
Investors should be aware of the inherent risks associated with cryptocurrency trading. Bithumb emphasized that cryptocurrency investments could lead to significant losses and potentially result in the loss of the entire investment. Additionally, within seven days of this announcement, Bithumb may impose restrictions on deposits and withdrawals, block accounts, and request further verification from members to ensure security and compliance.
Order Restriction Reminders
For new investors, Bithumb has implemented certain order restrictions to ensure a secure trading environment. Initially, buy orders will be restricted for the first five minutes after trading begins. Additionally, sell orders will be limited to a range of -10% to +100% of the reference price during the same period. Automated orders will only be allowed after the first execution following the start of trading.
Regarding deposits and withdrawals, users need to follow specific guidelines to avoid issues. Bithumb, adhering to the Travelpool application, supports transactions only through cryptocurrency providers compatible with its platform. This means deposits and withdrawals must be conducted through exchanges supported by Bithumb to ensure smooth transactions.
Furthermore, users should be cautious when depositing crypto assets. Only the announced types of crypto assets can be processed in case of incorrect deposits. Before making any deposit, users should verify the asset’s address system and network connection displayed on the deposit screen to prevent any errors.
