- Across Protocol (ACX) gets listed on Korean market, allowing ETH-based transactions only.
- Bithumb enforces strict trading rules to prevent price manipulation at launch.
- South Korea’s crypto investors surpass 9.6 million, rising by 52.6% this year.
The Across Protocol (ACX) has been launched on Bithumb’s Korean Won (KRW) market for trading on March 22, 2025. The announcement can be viewed as a major step towards recognition for ACX since the platform gets exposure in the crypto space. Further, the listing will cover only Ethereum-based transactions, implying that deposits from other networks will not be allowed.
Initial Price and Deposit Details
The initial price of ACX is set at 439 KRW, with a deposit confirmation requirement of 33 KRW. Bithumb has specified that deposits and withdrawals will be enabled within two hours of the announcement, but only those made through the Ethereum network will be processed. This is a crucial step to ensure smooth transactions and prevent issues related to unsupported networks.
Bithumb has put measures to enable trading particularly for the first period after listing. Like most markets, buying is prohibited for its first five minutes to avoid any influence on price manipulation. In turn, sell orders can be placed only in the range of -10% and +100% of the initial price.
Automated orders are also not possible until the first trade has been completed. These restrictions include preventing distorted price discovery for listed securities and controlling unnecessary fluctuations during the initial trading sessions.
To comply with the Travel Rule, Bithumb will only accept deposits and withdrawals from registered Virtual Asset Service Providers (VASPs). Any deposits coming from unregistered exchanges will not be processed and may require significant time for refunds. Additionally, users are advised to ensure that they are using the correct address structure and network when making deposits, as only certain types of errors will be addressed.
According to a survey, the number of domestic virtual currency users, including Bitcoin, rose by more than half this year, exceeding 9.6 million. The data of five large exchanges, such as Upbit, Bithumb, Coinone, Korbit, and Gopax, also reflect the increased number of investors which has spiked by 52.6%, comprising a total of 9,667,023 investors. These investors invested in virtual currencies exceeding 100 trillion won.
Related: Coinbase Eyes Deribit Deal to Dominate Crypto Derivatives
Also, the data revealed that a major portion of investors are of advanced age. The percentage increase in investors in their 50s was recorded at 56.4% while investors aged above 60 years stood at 52.6%. Among the self-made millionaires having over one billion won worth of virtual currencies, over 40% are above the age of fifty. It also revealed that these investors possess an average of 2.15 billion won worth of digital currencies.
