LD Capital Analysis of HIFI Financial Situation

LD Capital's Analysis of HIFI's Financial Health

Source: LD Capital

Project Overview

Hifi Finance is a lending protocol built on Ethereum, offering products including cryptocurrency collateralized lending, NFT collateralized lending, and RWA services.

Basic Information

The circulating market cap is approximately 99.78 million USD, with the circulating supply accounting for around 88% of the total supply. The 24-hour spot trading volume is 198 million USD.

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The spot trading volume is mainly on the upbit exchange, accounting for 81.64%. The second largest is Binance, accounting for 11.94%.

In the past 24 hours, its trading volume ranks among the top five on upbit.

Historical Prices

The HIFI token was listed in early 2023 and has been trading below $0.5 ever since. There was a volume surge in September that quickly spiked to $2.4, followed by a rapid decline. With the market warming up at the end of October, it has reentered an uptrend.

Holdings

HIFI has the most holdings on Upbit, accounting for over 55% (some unmarked wallets are also from Upbit). Binance is the second largest, holding approximately 29% of the tokens. The project team holds 11%.

Large Transfers

Large transfers also occur between exchanges, mainly between Upbit and Binance, as well as within Upbit’s own accounts.

According to arkham’s data analysis, the wallets marked in red are all addresses associated with Upbit.

Contract Data

The position/market value is 0.38, with a 38% increase in positions over the past 24 hours, and a trading volume of 794 million USD in the same period.

The position volume shows a growth trend, with an increase of 104% from the bottom to now, and the highest position increase is 163%. The active buying volume is average, not particularly strong. The long/short position ratio is 1.19, but compared to yesterday, it has significantly decreased from 3 to 1.19, indicating that chips are concentrated among large holders.

Conclusion

HIFI token trading is active, with 24-hour trading volume ranking in the top five on Upbit. Contract positions have seen significant growth and have a relatively high market share. The long/short ratio shows a clear downward trend. However, the current on-chain activities are mainly interactions between Upbit and Binance, and no large account accumulation activities have been observed. The buying volume in the contract market is also not strong enough.

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