Top-100 Web3 Altcoin Surges by 67% This Week Amid Wallet Update, New Partnership and Token Relisting

A top-100 web3 altcoin has surged by more than 67% this week amid a wallet update, a new partnership and a relisting on a Korean exchange.

WEMIX, a subsidiary of South Korean video game developer Wemade, aims to build a web3 ecosystem that focuses on experience-based services.

The project’s native token is trading at $3.91 at time of writing, up from $2.34 one week ago. The 56th-ranked crypto asset by market cap is also up more than 22% in the past 24 hours.

On Tuesday, Wemade announced a partnership with Dubai International Financial Centre’s Innovation Hub to build a WEMIX-centric web3 gaming community. The partnership aims to raise a $100 million web3 gaming fund to support developers, studios and entrepreneurs.

The following day, the project’s blockchain gaming platform, WEMIX PLAY, updated its wallet with enhanced features.

WEMIX was also relisted by the South Korean exchange Korbit on Wednesday, after the exchange pulled support for the token back in November 2022.

At the time, the exchange said it was removing trading services for the asset for a variety of reasons, including that WEMIX provided insufficient or incorrect information to its investors. The exchange, however, notes that the project has now rectified those issues.

Despite WEMIX’s recent gains, however, the asset remains more than 84% down from its all-time high of $24.71, which it hit in November 2021, according to CoinGecko.

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