Unusual Trading Volume Spike on South Korea's Largest Cryptocurrency Exchange

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Significant Trading Volume Changes for Altcoins
  2. SXP and Other Altcoins See Unprecedented Volume Spikes
  3. MINA and LOOM Stand Out


    4. Recently, South Korea's largest cryptocurrency exchange, Upbit, has witnessed unusual surges in the trading volume of several altcoins. These sudden and significant changes have caught the attention of Upbit users.

    Significant Trading Volume Changes for Altcoins

    Several altcoins, including Solar (SXP), Jupiter (JUP), Beam (BEAM), Loom Network (LOOM), and Mina (MINA coin), have recently shown unusual trading volume spikes on Upbit. These substantial changes, especially when compared to the 50-period moving averages, have intrigued Upbit users.

    SXP and Other Altcoins See Unprecedented Volume Spikes

    One of the most striking increases was seen in Solar (SXP), where Upbit experienced a 150.84% surge in hourly trading volume. The average volume of $40,000 skyrocketed to $101,000 within an hour. On Binance, however, the volume decreased by 19.55%, dropping from $99,000 to $80,000, highlighting differing dynamics between exchanges. Speculative buying in the South Korean market may explain the sudden interest in Solar, while global investors may not be reacting in the same way.

    Another altcoin that experienced a significant surge was Jupiter (JUP), where the trading volume on Upbit rose by an astonishing 242.62%, from an average of $47,000 to $162,000. Binance also saw an increase, but it was more moderate, at just 5.76%, with the volume increasing from $403,000 to $426,000.

    MINA and LOOM Stand Out

    Loom Network (LOOM) experienced a major jump in volume on Upbit, with its hourly trading volume increasing by 322.13%, climbing from $1 million to $4 million. Binance showed an uptick as well, though less pronounced, with a 30.31% increase, as the volume rose from $674,000 to $878,000.

    Finally, Mina (MINA coin) also saw an unusual spike in trading volume on Upbit, where its hourly volume grew by 157.37%, rising from $66,000 to $170,000. Interestingly, Binance displayed an inverse trend, with MINA’s trading volume dropping by 53.75%, from $187,000 to $86,000.

    These significant fluctuations, particularly between different exchanges, highlight the divergent trading patterns in the cryptocurrency market. Experts suggest these surges could be driven by speculative buying in South Korea, different market conditions, or evolving investment strategies.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Binance Launches P2P Merchant Referral Campaign in Africa

Binance has launched a P2P merchant referral campaign in Africa, offering rewards for referrers and new merchants from October 8 to November 7.

user avatarLeo van der Veen

Strategy to Announce Third-Quarter 2026 Results and Host Investor Webinar

Strategy will announce its third-quarter 2026 financial results and host a live webinar for investors on October 29, providing insights into its corporate Bitcoin treasury.

user avatarLi Weicheng

XRP Ledger's BatchV11 Amendment Set for Activation

The XRP Ledger's BatchV11 amendment is expected to activate around October 9, pending validator support.

user avatarMaya Lundqvist

NFL Backs New Jersey's Appeal on Sports Prediction Markets

The NFL has filed an amicus brief urging the Supreme Court to consider New Jersey's appeal regarding the classification of sports prediction markets, advocating for state regulation and enhanced consumer protections.

user avatarAisha Farooq

Binance Launches Meteora Spot Trading Competition with 400 BNB Prize Pool

Binance has launched a new spot trading competition for the MET token with a prize pool of 400 BNB, running from October 8 to October 15.

user avatarBayarjavkhlan Ganbaatar

The Graph Sets October 8 Deadline for Transition to Decentralized Network

On October 8, The Graph will transition from centralized Subgraph Studio endpoints to its decentralized network, impacting developers on Polygon and BNB Chain.

user avatarTenzin Dorje

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.