As a seasoned analyst with extensive experience in the cryptocurrency market, I find the recent decision by South Korea’s DAXA to halt trading support for Radiant Capital (RDNT) a prudent move in light of the project’s security concerns. In my career, I’ve seen far too many instances where a lack of transparency and proper security measures have led to disastrous results for investors.
The South Korea-based Digital Asset Exchange Association (DAXA) has decided to halt trading support for Radiant Capital (RDNT), due to security concerns stemming from a lack of satisfactory explanations regarding a recent security incident. DAXA’s goal is to safeguard investors by temporarily halting transactions until the problems are addressed and resolved.
As a researcher delving into the realm of cryptocurrencies, I find myself focusing on DAXA, an alliance consisting of South Korea’s leading digital asset trading platforms: Upbit, Bithumb, Coinone, Korbit, and Gopax.
South Korea’s DAXA Halts Trading Support for Radiant Capital
On November 14, Bithumb, the second-largest cryptocurrency exchange in South Korea, declared it would discontinue support for trading Radiant Capital (RDNT). This move came after the Digital Asset Exchange Association (DAXA) made a decision, as the Radiant Capital project did not adequately address security issues related to the $50 million hack that occurred on their platform.
On December 12, trading for RDNT will conclude officially on Bithumb. After this date, users will not be able to buy or sell the token. Furthermore, the withdrawal support for RDNT will terminate on January 10 of next year. It is strongly recommended by the leading crypto exchange that all users complete any transactions or withdrawals before these deadlines to prevent potential issues.
In their statement, Bithumb highlighted that their decision concerning DAXA aligns with their commitment to safeguard investors’ interests. The lack of submission by Radiant Capital of the essential explanatory documents related to security concerns played a significant role in this action. Consequently, the platform no longer meets the required standards to continue receiving trading support.
Bithumb advises its users to finish any RDNT token withdrawals prior to January 10th next year. Failing to do so might result in the suspension of technical support for this token after that date, making further actions like main-net upgrades or airdrops impossible, and potentially limiting future withdrawals.
RDNT Price Struggles
At the moment, the Radiant Capital token (RDNT) is being exchanged at approximately $0.057. Over the last 24 hours, its price has fluctuated between $0.056 and $0.060. The trading volume over this period amounts to around $40.23 million, representing a minor 1% rise. Despite this slight upward trend, RDNT has experienced a decline of 2% in the last week and a more substantial drop of 22% over the past month. Ongoing delisting and regulatory difficulties seem to be affecting investor confidence.
In spite of facing legal hurdles, Bithumb has also disclosed its growth plans. During a recent gathering of shareholders, the exchange expressed intentions to go public on the US Nasdaq stock market, which was discussed on September 30th. This move underscores Bithumb’s determination to expand its market presence and strengthen its status within the international cryptocurrency sector.
Read More
- EUR ARS PREDICTION
- EUR CAD PREDICTION
- CHR PREDICTION. CHR cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- EUR MYR PREDICTION
- USD BRL PREDICTION
- XRP PREDICTION. XRP cryptocurrency
- ULTIMA PREDICTION. ULTIMA cryptocurrency
- SAFE PREDICTION. SAFE cryptocurrency
- POL PREDICTION. POL cryptocurrency
2024-11-14 13:52