$WEMIX gained 200%+ after listing the date of its upcoming mainnet upgrade and announcing plans to launch a fully collateralized stablecoin.
shows that since hitting a low of $1.27 on May 12, WEMIX price climbed 269% to hit a daily high at $4.70 on May 25 as its 24-hour trading volume increased to $652 million.Three reasons for the price reversal for WEMIX are the upcoming launch of WEMIX 3.0, a series of project launches and partnership agreements, and the introduction of lockup staking for token holders.
WEMIX 3.0 will be an Ethereum virtual machine compatible public chain that will utilize a stake-based proof-of-authority consensus algorithm. As part of the mainnet launch, WEMIX will also be introducing the WEMIX Dollar as the native stablecoin of the ecosystem. WEMIX will be a 100% collateralized stablecoin, backed by USD Coin and off-chain assets like fiat currencies.May has been a busy month for the WEMIX protocol after multiple games launched or announced their upcoming launch dates on the network. New additions include Crypto Ball Z, Four Gods and Every Farm, as well as the onboarding of the SpoLive sports prediction game.
Along with protocol launches, WEMIX announced several strategic investments including being the lead investor in the Old Fashion Research crypto fund as well as an investment in an U.S.-basedOn May 17, the team behind WEMIX also signed a memorandum of understanding with the Vietnam Blockchain Association.WEMIX also launched Stake360, an incentive that offers WEMIX holders boosted staking rewards for committing to an extended lockup period.
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