{"id":327383,"date":"2023-05-23T10:45:22","date_gmt":"2023-05-23T09:45:22","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=327383"},"modified":"2023-05-23T10:45:22","modified_gmt":"2023-05-23T09:45:22","slug":"kava-waves-pump-as-south-korean-exchanges-resume-deposits","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/kava-waves-pump-as-south-korean-exchanges-resume-deposits\/","title":{"rendered":"Kava, Waves pump as South Korean exchanges resume deposits"},"content":{"rendered":"

South Korean exchange UPbit affirmed that the Digital Asset Exchange Association (DAXA) removed investment warnings on WAVES and KAVA<\/a> and resumed deposits for these assets, according to a May 23 statement<\/a>.<\/p>\n

DAXA issued warnings<\/a> about WAVES and KAVA last year when stablecoins linked to them were discovered to be “not normally linked to 1 dollar”. At the time, the South Korean exchanges attached an “investment warning” to these assets, warning their users about investing in them.<\/p>\n

Upon review of these assets, DAXA said the exchanges no longer see them as a significant risk, adding that its reasons for designating them as caution items have now been resolved. This means the South Korean exchanges can resume deposit services for KAVA and WAVES.<\/p>\n

UPbit said deposits that happened when support for these tokens was suspended would be reflected in users' accounts.<\/p>\n

DAXA is a collective of the top five crypto exchanges in South Korea, including UpBit, Bithumb, Coinone, Korbit, and Gopax. The association was formed after the Terra Luna collapse to prevent a similar recurrence.<\/p>\n

Since then, the exchanges jointly review digital assets and can delist those that do not meet their standards and designate them with investment warnings.<\/p>\n

Kava, Waves pump<\/h2>\n

Following the news, KAVA and WAVES have risen by double digits, according to CryptoSlate's<\/em> data.<\/p>\n

KAVA is up 13% in the last 24 hours and is trading for $1.21 as of press time. The token has enjoyed a positive run over the past month, rising more than 50%.<\/p>\n

The run has coincided with the launch of the Kava 13 mainnet and the introduction of GameFi and NFTs to its ecosystem.<\/p>\n

Meanwhile, WAVES rose 14.7% to $1.88 at the time of writing. Waves Labs had previously said<\/a> the DAXA designation had negatively affected the token.<\/p>\n

Speaking on the new warning removal, Waves\u00a0founder Aleksandr ‘Sasha' Ivanov thanked<\/a> the community, adding that “reason has prevailed.”<\/p>\n","protected":false},"excerpt":{"rendered":"

South Korean exchange UPbit affirmed that the Digital Asset Exchange Association (DAXA) removed investment warnings on WAVES and KAVA and resumed deposits for these assets, according to a May 23 statement. DAXA issued warnings about WAVES and KAVA last year when stablecoins linked to them were discovered to be “not normally linked to 1 dollar”. 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