LD Capital: ：HIFI capital situation analysis
Original author: duoduo, LD Capital
Project Description
Hifi Finance is a lending protocol built on Ethereum, offering products including cryptocurrency mortgage lending, NTF mortgage lending, and RWA services.
basic situation
The circulating market value is approximately US$99.78 million, the ratio of circulating volume to total supply is approximately 88%, and the 24-hour spot trading volume is US$198 million.
Spot trading volume is mainly on the upbit exchange, accounting for 81.64%. Followed by Binance, accounting for 11.94%.
In the past 24 hours, its trading volume ranked among the top five on upbit.
historical price
The HIFI token was launched in early 2023 and has remained below $0.5 for a long time since its launch. In September, there was a sharp increase in volume to 2.4 dollars, and then it quickly fell back. At the end of October, as the market recovered, it re-entered the upward trend.
Position status
HIFI has the largest holdings on Upbit, accounting for more than 55% (some unmarked wallets are also upbit wallets). Binance is next, holding about 29% of the tokens. The project party holds 11%.
Large value transfer
Large transfers also occur between exchanges, mainly between upbit and Binance, and between upbit’s own accounts.
According to arkham’s data analysis, some wallets marked in red are upbit addresses.
Contract data
Open Interest/Market Cap is 0.38, 24-hour open interest increased by 38%, and 24-hour trading volume was $794 million.
The position shows a growth trend, with an increase of 104% from the bottom to the present, and the highest increase of the position is 163%. The active buying volume is average and not considered strong. The ratio of long and short positions is 1.19, but it has dropped significantly compared to yesterday, from 3 to 1.19. The chips are concentrated in large players.
in conclusion
HIFI token trading is active, and its 24-hour trading volume ranks among the top five on upbit. Contract holding data has grown significantly, and its market capitalization ratio is high. The long-short ratio showed a clear downward trend. However, the current activities on the chain are mainly interactions between upbit and Binance, and no large account opening activities have been seen. The active buying volume on the contract is not strong enough either.
