My people! What's up? Attention, pals, because this crypto thing has us all wide-eyed! 👀 Did you hear about the craziness with Hashflow, the HFT? Well, this coin shot up 123% in just 24 hours! A serious matter! 🔥 And of course, the million-dollar question is: why such a crazy spike?
It turns out there are a couple of things cooking behind this surge. First, the folks at Binance, who are tough, brought Solana into the game on June 5. This means it is now much easier to move HFT from one side to another, like hot bread! 🍞💨 This gave a brutal boost to the utility of the coin, allowing deposits and withdrawals to be super fast! Imagine the convenience! 🏎️💨 Although the integration was about 25 days ago, it seems people are realizing it now, better late than never! And watch out, this comes hand in hand with a move they made with Kamino Finance in May, to make exchanges slip-free! A total score! ⚽
But here comes the part that gives us all goosebumps: the whales! 🐋 No, not the ones in the sea, but the big investors, the ones with loads of cash. It turns out that 70% of all HFT is in the hands of these "sharks"! 🦈 Almost 70% of the supply! It's crazy! This means that if these guys agree, they can move the market however they want. And the trading volume grew by 675% in one day, reaching 328 million dollars! But with a market capitalization of 84.7 million, the turnover ratio is 3.87! This tells us that things are more than speculative! We need to stay alert! 🚨
Ah, and a curious fact: KuCoin, another platform, played a little trick on HFT by removing a trading pair on June 18, but left others, so the blow wasn't so hard. Thank goodness! 🙏
In summary, my people, HFT is on fire due to a mix of things: the integration with Solana that gave it a fresh breath, and the power of the whales that have almost total control. It's like a puzzle where every piece influences! 🧩 Although technically things look good, the concentration of that 70% in a few hands is a risk to be considered. So let's stay attentive to the metrics, to see if this rocket keeps rising or if we take a sudden downturn! That's the crypto life, full of intense emotions! 🎢 Don't fall asleep!
