The cryptocurrency exchange Bithumb recently announced the inclusion of Xai (XAI) in the KRW market, demonstrating its dedication to diversifying trading options and improving user experience. This decision brings forth significant developments for users to take note of.

Introduction of Altcoin XAI

Primarily, the introduction of XAI trading will be exclusive to the KRW market and the Arbitrum One network. Any deposits made using other networks will not be supported. The scheduled timeline for XAI trading activities is set as follows: Deposits will commence on June 5, 2024, at 21:30 in local time, with trading and withdrawal transactions becoming operational from 23:00 on the same day. The base price for XAI has been fixed at 1,192 KRW, with a prerequisite of at least 30 deposit confirmations before transactions can be executed.

Investors are cautioned about the potential risks associated with cryptocurrency trading and are advised to exercise prudence. With the new listing of XAI, there exists a possibility of facing partial or complete loss of investments. Bithumb retains the authority to enforce constraints on deposits and withdrawals, freeze accounts, and require additional verification procedures from members within a week's notice. These measures are designed to preserve the integrity of the trading atmosphere and protect users' investments.

Bithumb's Cautionary Measures

To ensure a secure trading environment, Bithumb has implemented specific order restrictions, especially targeted at new investors. During the initial five minutes post-commencement of trading, there are limitations on buy orders, and sell orders are bounded within a range below -10% and above +100% of the reference price. Only after the first transaction is completed will automatic orders be permitted. Furthermore, the reference price on the market addition day will be established based on the opening price displayed on the chart rather than the first transaction price.

Users are advised to confirm that they are engaging in transactions on exchanges accredited by Bithumb to avoid complications. Transactions, along with deposits and withdrawals, executed through exchanges subject to Bithumb's trading restrictions may face limitations per the platform's Terms of Service. Post the announcement of XAI's listing, a notable 510 increase in XAI was witnessed. Presently, the trading value of the cryptocurrency XAI stands at $0.96.