$FLOW Trading Resumes Amid Legal Challenge
$FLOW traded around $0.066240, recording a 7-day increase of 75.3% and a 24-hour trading volume of approximately $175.5 million. This market surge, which registered a Ruma sentiment score of 81 upon the initial news of trading restorations, represents a significant relief rally for the asset amidst an ongoing legal challenge to prevent its delisting from several major South Korean exchanges.
Delisting Threat and Flow's Established Ecosystem
The delisting threat originated following a reported exploit in December, prompting security or regulatory concerns among some exchanges. Before recent trading restorations, $FLOW had experienced a prolonged downturn, with its value decreasing approximately 99.9% from its all-time high of $42. Despite historical volatility, Flow maintains a presence, hosting projects from major brands like Disney, NBA, and NFL.
Exchange Restorations and Formal Legal Action
Regarding the legal challenge, the Flow Foundation and Dapper Labs formally filed a motion with the Seoul Central District Court. This action seeks a provisional injunction to suspend the termination of $FLOW trading support on three South Korean exchanges: Upbit, Bithumb, and Coinone, where delisting was set for March 16. The announcement of this legal filing garnered a Ruma sentiment score of 61, with related sentiment scores reaching as high as 92 and 89, and the token's overall mindshare increasing by 0.2%.