▲ Cryptocurrency leader Bitcoin. (Reuters Yonhap News)
The number of cryptocurrency coins listed on domestic exchanges has increased more than 10 times in 3-4 years. At the same time, the number of coins for which false disclosures and transaction support are terminated also increases, requiring investors’ attention.
According to the four major exchanges such as Bithumb, Upbit, Kobit, and Coinone on the 21st, the number of listed coins has increased significantly in a short period of time. When Upbit was established in October 2017, only one bitcoin was listed on the won market, but 114 coins are currently being traded (as of the 19th).
Bithumb, which opened on January 5, 2014 under the name of X Coin, had only 8 coins listed on May 18, 2017. On October 20 of that year, when Quantum went public, it recorded 10, and the number of coins has soared to 143 now.
Coinone also officially opened an exchange in October 2014 and started with a single bitcoin, but the number of listed coins increased to 181. Kobit, the first cryptocurrency exchange in Korea, which opened in July 2013, is conservatively listed and currently only has 30 coins, but it plans to activate listing this year.
While the number of listed coins surged, the number of coins disappearing from the exchange (transaction support ended) also increased. From November 2019 to the present, 37 types of coins have been withdrawn from Bithumb and 14 coins from Upbit.
When each exchange finds a violation of the law, inappropriate use of coins, or technical vulnerabilities, it decides to delist after designating a transaction-related item. If it is designated as a transaction-related stock, it is necessary to be careful because price volatility increases. In particular, for virtual currency, there is no legal regulation on disclosure, so false disclosure is pointed out as a big problem.
Recently, Upbit’s coin’Go Money 2′, which was listed on the’Bitcoin Market’, was delisted after controversy. Unlike the KRW market, the bitcoin market is a place to buy and sell other virtual assets with bitcoin.
GoMoney 2 announced that it was “invested from Celsius Network, a massive North American fund worth 5 trillion won,” but it turned out to be false. Upbit ended support for GoMoney 2’s transaction as of noon on the 19th.