Koindex will take the following measures in an aim to improve the value and balance of KOIN. This is with an intention of creating an environment where users can use it with peace of mind.
KOIN/USDT price range limit lifted for a week
The KOIN price, which undergoes a price reset every Monday, has an upper and lower price limit of 10%. In order to adjust the current supply and demand balance of KOIN, the Koindex Fund purchases KOIN from time to time. With respect to the current selling pressure of KOIN and considering the impact on existing KOIN holders, we will temporarily hold back on planned KOIN purchases.
Therefore, we have decided to temporarily lift the price limit in consideration that the market will respond during this one week period.
Koindex has endeavored to provide stable prices to KOIN holders with a structured price range, but considering the need to adjust the balance between supply and demand, we unfortunately came to this decision.
The price limit will be removed for one week from the following date and time. Users who want to actively buy and sell KOIN should take this opportunity to do so.
Period: 11/30/2020 6:45 UTC ~ 12/7/2020 6:15 UTC
Please note, due to the 10% price limits being lifted, the price action may be quite volatile. Koindex is not responsible for any user’s trading gains or losses, so please be very careful when placing your trades.
Thank you for your support.