South Korean crypto exchange Upbit, the largest in the country, announced the delisting of the BONK trading pair, citing numerous shortcomings and potential for user harm. This decision, partly driven by security incidents, caused BONK’s price to crash 14% in just 12 hours, while trading volume surged 270%. The support level at $0.00000287, corresponding to the 23.6% Fibonacci extension, broke down under selling pressure. The token’s rapid decline created a cluster of short liquidations around $0.0000026, suggesting a potential technical bounce toward former support levels in the coming sessions.
Source: Read the original article
