In the grand tapestry of the digital bazaar, South Korea’s vaunted Upbit has unfurled a cautionary flag against the HIFI token, halting its golden flow into the exchange’s coffers. The bold move, as if a playwright scripting a tragedy, saw HIFI’s worth descend by 11%, its market crown shrinking to a mere $41.95 million. 📉
South Korea’s largest cryptocurrency exchange, Upbit, has issued an investment warning for the HIFI token. Currently, HIFI has been placed on the transaction watchlist by the Digital Asset eXchange Association (DAXA) and will suspend deposit services.
— Wu Blockchain (@WuBlockchain) March 28, 2025
Alas, the Digital Asset eXchange Association (DAXA), a collective of Korea’s crypto titans, has HIFI in its sights, citing a foggy business landscape and a token distribution scheme as clear as mud. Sustainability, it seems, is as elusive as a ghost in the night. 👻
These five titans of trade—Upbit, Bithumb, Coinone, Korbit, and Gopax—stand as sentinels against the tides of market madness, their watchlist a veritable gallows for the unprepared. From March 28 to April 11, HIFI must walk a tightrope, or face the ultimate delisting guillotine. 🪓
Governance Vote: A Vote for Uncertainty?
In a tale of governance gone awry, HIFI’s stakeholders cast their lots, birthing an additional 25 million tokens into the world. From 146.25 million to 171.25 million, the supply expanded like a balloon ready to pop. The new tokens, like a slow leak, will seep into the market over 21 months, threatening to dilute the very essence of HIFI’s worth. 💥
As of now, HIFI trades at the paltry sum of $0.2958, a 25% nosedive in a month, and a 75% freefall in a year. Such is the rollercoaster of digital dreams. 🎢
The HIFI Price: A Tumultuous Journey Ahead?
On the chart of HIFI’s fate, the Bollinger Bands (BB) have spoken: the price has dipped below the lower band, a sign of market distress. The 20-day moving average ($0.3313) stands as a mountain too high to climb, and the RSI hovers at 32.38, teetering on the brink of despair. 📉😢
Resistance at $0.33 looms like a fortress, and only a heroic surge above $0.35 could turn the tides. Meanwhile, support at $0.29 stands as a fragile barrier. Should it crumble, HIFI may well find itself in the dungeon of $0.25. 🚀🤕
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2025-03-28 16:18