Prize money doubled from 600 million to 1.2 billion in one month... Pro golfer Lee Yewon hits the jackpot

Received 250,000 WEMIX at WEMIX Championship
Price Surges on Relisting Expectations

Wemix Championship 2023 winner Lee Ye-won (20, KB Financial Group) saw the price of the cryptocurrency prize she received last month surge within a month, jumping from 600 million won to 1.2 billion won, resulting in a capital gain of over 100%.

On the final day of the event tournament 'Wemix Championship 2023,' held on the 19th of last month at Busan Gijang Haeundae Beach Golf & Resort (par 72) as a season championship, Lee shot 5-under-par 67 with one eagle, five birdies, and one double bogey in the second round. She won the championship by one stroke ahead of second-place No Seung-hee (22, 4-under-par).

Player Lee Yewon [Photo by Yonhap News]

Lee received 250,000 Wemix as the winner's prize money at the tournament. At that time, Wemix was trading below $1.80 (about 2,360 won) on the U.S. cryptocurrency market capitalization information site CoinMarketCap. Considering the exchange rate, the Wemix awarded to Lee was valued at about 580 million won.

The prize value more than doubled in about a month. On the morning of the 13th, Wemix was trading at 5,135 won per coin. Converting Lee's holdings into price, it is estimated to be about 1.275 billion won.

Lee will be able to sell the Wemix she holds starting from January next year after a period during which trading is prohibited. If the current price level is maintained until then, she will be able to receive prize money more than twice as high as at the time of winning.

The price surge of Wemix appears to be due to expectations of relisting. Recently, it was a suspended item on the Digital Asset Exchange Joint Council (DAKSA), composed of Korea's five major exchanges: Upbit, Bithumb, Korbit, Coinone, and Gopax. The council collectively delisted Wemix last December due to a violation of circulation disclosure.

Although DAKSA has not officially announced it, the industry views the relisting ban period as one year. In fact, on the 8th, exactly one year after the delisting, Korbit relisted Wemix.

At the time of Wemix's delisting, its value was 209 won on Upbit and 308 won on Bithumb. Domestic exchanges except Upbit have resumed trading Wemix.

This content was produced with the assistance of AI translation services.