Unusual trading activity has been observed on South Korea’s largest cryptocurrency exchange, Upbit, with several altcoins experiencing significant increases in volume.
Sudden Spikes in Trading Volumes on Upbit
One of the most notable changes was seen on Ark (ARK), which saw its 1-hour trading volume on Upbit increase by 235.88%. The most recent trading volume reached $270,000, a sharp increase from the 50-period average of $80,000.
Comparison with Binance
Interestingly, while Ark’s volume on Upbit increased, Binance reported a decrease, with the most recent 1-hour volume falling 16.66% to $77,000 compared to the average of $92,000. Similar patterns are observed for other altcoins.
Details for Each Altcoin
Qtum (QTUM) has also seen a dramatic increase in trading volume on Upbit. The latest figures show a 206.60% jump in 1-hour trading volume, from an average of $14,000 to $42,000. On Binance, Qtum’s trading volume has slightly decreased, from an average of $11,000 to $10,000, a 10.79% drop. Chainlink (LINK) saw a notable increase in 4-hour trading volume on Upbit, rising 57.90% to $59,000 from its 50-period average of $37,000. Meanwhile, Binance saw a more modest increase of 8.21%, with its 4-hour trading volume rising from its average of $266,000 to $288,000. Threshold (T) and IQ (IQ) also saw significant volume increases on Upbit. Threshold’s 1-hour volume increased by 150.46% to $4 million, while IQ’s volume increased by an impressive 423.50% to $14 million. On Binance, both tokens showed minimal changes, with Threshold’s volume decreasing by 3.88% while IQ’s volume slightly increasing by 7.63%.
In summary, the unusual changes in altcoin trading volumes on Upbit may indicate significant market shifts. Stay updated with the latest news for further details.
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