In my article on May 24, I told you that Lightcoin has been designated as a significant designation and that it is on the verge of being “exited” from the domestic exchange. As it became a reality that Lightcoin was delisted from domestic exchanges, I’m sending you the news again.
Upbit Exchange is scheduled to end on June 20, 2022.
The reason for the termination of transaction support is because of the recent “Memble Wimbledon” update by Lightcoin. Under the Specific Financial Information Act, domestic exchanges should check whether they can check transmission records for digital assets that contain technologies that prevent transmission records from being identified, and take appropriate measures if anonymous transmission technology is found. This is because I think this is the case with the update of Lightcoin.
The name of the update, Memble Wimbledon, is a kind of spell from the Harry Potter series and is said to be a temporary tongue twister. It seems appropriate to prevent information leakage.
The Memble Wimbledon, a recent update by the Lightcoin Foundation, is known to include an enhanced “anonymous transmission” function that prevents transaction information from being exposed. These coins are called ‘dark coins’. The Special Money Act is about these dark coins.
The news of the delisting of Lightcoin is quite a shock to those who have been exposed to virtual currency for a long time. Because at one time, Lightcoin was a coin of phase after Bitcoin, Ethereum, and Ripple. If Bitcoin is called ‘digital gold’, Light Coin is a coin that was even called ‘digital silver’ by its self-styled title.
Meanwhile, the price of Lightcoin soared in a day after Upbit designated it as a significance on May 23. The coin, which had maintained the 93,000 level, soared to 110,000 won in a day and then plunged again, and now it is at the 78400 level. There has been little change in prices since the brief rise.
I think the price went up because we expected that it would not be able to flow from abroad after designating it and that demand would be higher than supply. On overseas exchanges, the price remained the same, so domestic kimchi once exceeded 35%.
However, all domestic exchanges quickly responded to the same thing, so after that, it returned to normal prices and there is no significant movement.
Currently, Lightcoin is ranked 20th in the market capitalization ranking.
Also, Light Coin is traded normally on most overseas exchanges except for domestic exchanges.
Domestic exchanges are planning to delist Lightcoin all at once.
The transaction support for Light Coin will be terminated on June 20th for Upbit, 22nd for Bithumb, 22nd for Coinone, 17th for Covit, and 15th for Gopax. It is noticeable that Gopax is always the fastest to cooperate with government regulations.
Opinions are divided on whether it is right to regulate dark coins like this. Personally, the fundamental ideology of the blockchain is decentralization, but if the state regulates it because it has been decentralized, I think it only means that the state sees coins as an enemy in the first place.
Despite the recent Luna crisis, domestic exchanges were locked up and only domestic transactions were made, resulting in a kimchi premium that once bought and sold the same item 60 times more expensive than foreign countries. At that time, Luna’s domestic premium was 600,000%. Investors who made billions of won using this were posted on the community.
It is the domestic exchanges that charge ridiculous fees that are more expensive than securities transactions to kimchi premium, which buys the same thing more expensive than foreign countries.
If you use an overseas futures exchange, you can enter the direction of falling prices and see profits, and the commission is also low.
I recommend the Bybit Exchange. 바이비트 수수료 It is safe because the market price commission is the lowest in the industry and the futures exchange ranking is in the fifth place. It is also one of the few exchanges that passed Upbit’s Trebleul, and it is free to deposit and withdraw more than 1 million won.
I recommend it because it has already a well-known Capitrade function as well as derivatives services such as lunch pads and DiFi financial services.
If you sign up and trade, you can naturally receive the gift after completing the mission.
Today, I informed you of the news and schedule that Lightcoin, once called “Digital,” will end its transaction support in Korea.