"Wow, Bithumb has listed it, do investors want to buy it?"
One of the popular cryptocurrency exchanges in South Korea, Bithumb has finally listed the Korean won-backed cryptocurrency Stargate Finance (STG) on its increasingly popular platform.
However, such a listing action by the South Korean exchange will be monitored periodically as it can cause the price of an altcoin to make drastic fluctuations.
Recently, Bitcoin Cash (BCH) and Litecoin (LTC) have reportedly seen volatile momentum from South Korean crypto exchanges.
Like to be informed here that STG not only supports ERC-20 tokens based on the Ethereum (ETH) network but also plans to expand to other chains in the future so that more people are interested in investing in the digital asset.
After depositing STG tokens into a voting escrow account*, users can acquire veSTG to have voting rights in protocol management decisions including enjoying staking rewards and fee distribution.
*Token locking mechanism for a predetermined period of time
It is well known that STG aims to be the ultimate cross-chain liquidity hub that allows the smooth and secure transfer of all local digital assets on any blockchain.
For the record, Bithumb is one of the largest and oldest crypto exchanges in South Korea with over 8 million registered users and $1 billion in daily trading volume.
After hovering at $0.56 on July 2, 2023, STG price slowly managed to reach $0.64 but is now slightly down at $0.62 in the last 24 hours with a market cap of $127 million.
