Wemade’s Wemix token experienced a drastic decline of 60% following the announcement that trading will cease on local South Korean exchanges starting June 2. Withdrawals are also scheduled to end on July 2.

This announcement has triggered a sell-off as investors react to the uncertainty surrounding the token’s future. As exchanges take steps to dissociate from Wemix, traders are faced with limited options moving forward.

The decline emphasizes the challenges that lesser-known tokens face amidst regulatory pressures and the need to maintain compliance to sustain investor confidence.