Unusual Trading Volume Explosion in 5 Altcoins in South Korea
Unusual trading volume explosions are occurring in 5 altcoins on Upbit, South Korea's largest cryptocurrency exchange.
Unusual trading volumes were observed for some altcoins on South Korea's largest cryptocurrency exchange Upbit.
Tezos (XTZ) was one of the notable assets, with its one-hour trading volume increasing by 262.51% to $26,000, well above its normal average of $7,000. Interestingly, Tezos’ volume on Binance decreased slightly by 6.45%, reflecting the contrast in trader behavior between the two exchanges.
Another significant increase was seen in STP (STPT), with its volume increasing by 162.25% on Upbit from $249,000 to $654,000. Meanwhile, Binance noted a significant 24.42% decrease in STP’s trading activity.
Hedera (HBAR) also saw notable activity on Upbit, with a nearly 300% increase in four-hour trading volume, rising from $3 million to $9 million. Binance reported a smaller but still significant increase of 40.95% for the same asset.
Ethereum Name Service (ENS) saw its trading volume nearly triple on Upbit, rising 193.9% from its $8,000 average to $23,000. Binance also saw growth, with a 33.56% volume increase for ENS. This increase in activity on ENS may be due to Ethereum founder Vitalik Buterin recently trading on the platform.
Finally, Kava (KAVA) saw a sharp 256.18% increase in one-hour trading volume on Upbit, climbing from its $52,000 average to $186,000. In contrast, Binance’s trading activity for Kava increased modestly by 5.73%.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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