Bithumb, one of the largest cryptocurrency exchanges in South Korea, has taken a new step that may attract the attention of investors. Bithumb, which is working in partnership with the Digital Asset Exchange Joint Working Group (DAXA), announced that it has marked the altcoin projects ORB (Orbit City) and TEMCO as “investment alerts”.
DAXA issued a warning for those two altcoin
DAXA is known as a group that regulates cryptocurrency markets in South Korea and aims to raise reliability standards. Ensuring coordination between exchanges, protecting investors against potential risks and supporting the dissemination of accurate information about crypto assets are among DAXA’s main goals. Within this framework, exchanges that are members of DAXA can mark certain crypto assets if they pose a risk and decide to terminate transaction support when necessary.
According to Bithumb’s official statements, the ORB token was evaluated as an investment alert by DAXA due to the inadequacy of the issuing or managing organization in informing investors. The incomplete or inadequate disclosure of critical information that could affect the value of ORB by the token issuer creates a risky situation for investors. In addition, the lack of a community where ORB owners can communicate stands out as one of the factors that raises questions about the future of this token. The lack of a reliable flow of information for investors increases the uncertainty about whether the ORB token will maintain its long-term value.
“Lack of information” in TEMCO token
TEMCO token is also one of the altcoin projects marked as an investor warning. Bithumb stated that the TEMCO issuer did not disclose critical information about the project and did not share healthy information with investors. This situation raised doubts about the reliability and sustainability of TEMCO’s business model, while increasing concerns that the token could pose a risk to investors. The unjustified implementation of project changes shook investors’ trust in TEMCO token, while creating a perception among investors that lack of access to information and uncertainty prevailed.
In line with the new regulations of DAXA and Bithumb, ORB and TEMCO tokens have been marked as investment alerts as of November 6, 2024. As of this date, deposits for both tokens will be suspended. However, the final decision on whether this alert will continue or whether ORB and TEMCO will be completely removed from trading is expected to be announced between November 18-22. The investment alert decision for ORB and TEMCO tokens has not yet caused a major change in market prices. Although it is generally known that such alerts can have sudden effects on prices in the cryptocurrency market, ORB and TEMCO have not experienced any significant fluctuations so far. Nevertheless, it is important for investors to adopt a more cautious and investigative attitude in light of these developments.
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