Deep Dive
1. Upbit Security Breach (Bearish Impact)
Overview:
On November 27, 2025, South Korea’s largest exchange Upbit suffered a $38.5M Solana ecosystem hack affecting ACS, SOL, BONK, and others (Decrypt). The exchange froze withdrawals/deposits, stranding liquidity and sparking sell-offs.
What this means:
- ACS holders likely dumped tokens preemptively, fearing prolonged withdrawal freezes or delisting risks.
- The hack reinforces perceptions of Solana ecosystem vulnerabilities, indirectly pressuring ACS as a Solana-based project.
- Upbit accounted for 58% of ACS’s price surge in August 2025 (KuCoin India) – its operational halt removes a key liquidity source.
What to look out for:
Upbit’s timeline for resuming ACS trades and whether stolen ACS is liquidated on-chain.
2. Technical Breakdown (Bearish Momentum)
Overview:
ACS trades at $0.000382, below all key moving averages (7-day SMA: $0.000403). The 14-day RSI at 23.58 signals extreme oversold conditions but no reversal yet.
What this means:
- Oversold RSI typically precedes bounces, but MACD remains negative (-0.0000467), suggesting bearish conviction.
- Price sits near the 61.8% Fibonacci retracement level ($0.000504) – a breakdown below could target the 2025 low of $0.000371.
- Low turnover (6.33%) indicates illiquid markets magnifying volatility.
3. Altcoin Liquidation Spiral (Mixed Impact)
Overview:
Crypto’s "extreme fear" index (16/100) and Bitcoin dominance (58.81%) show capital fleeing altcoins. ACS’s 30-day correlation with SOL is 0.89 – Solana’s 7.5% weekly drop dragged ACS lower.
What this means:
- ACS faces headwids from both project-specific risks (Upbit) and sector-wide deleveraging.
- However, oversold conditions could attract contrarian buyers if market sentiment stabilizes.
Conclusion
ACS’s decline reflects a triple threat: post-hack panic, Solana ecosystem strain, and altcoin-unfriendly macro conditions. While oversold signals hint at possible relief, sustained recovery likely requires Upbit resuming normal operations and broader crypto market stabilization.
Key watch: Upbit’s next security update (expected by Dec 3) and whether ACS holds the $0.000371 yearly low.