What's going on with UpBit?
Many how wondered what's happening with FSN on Upbit lately. Upbit gave the following statement on the 28th of Feb 2021.
Short story: They gave a warning and closed deposits.
Shortly after FSN began pumping there like crazy and is currently traded at above 4.0 USD (compared to 0.30 USD on most exchanges).
Creating this kind of pump on Upbit is rather easy since they don't have much FSN as seen on FSNEX and by now all of it is likely owned by the same entity. But could there be anything more to this story? There is quite an interesting tx that happened on Upbit 43 days ago. As can be seen the receiver address has more than Upbit itself. Does UpBit have bigger plans? Is the pump orchestrated by a bigger whale? Honestly not sure what all this means...but it holds a few similarities to when Huobi traded at a higher price for an extended period of time. A part of FSN-history most would rather forget, but when it finally ended, it did end with the real price doing a huge pump.