• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

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

user avatar

by Giorgi Kostiuk

2 years ago


  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.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Bitcoin Spot ETFs Face Record Withdrawals Amid Market Losses

chest

Bitcoin Spot ETFs faced significant net outflows totaling 126 billion last week, marking the heaviest withdrawals since January.

user avatarRajesh Kumar

Decline in XRP Whale Activity Signals Market Compression

chest

XRP whale activity has significantly decreased, indicating a potential market compression phase.

user avatarMiguel Rodriguez

Concerns Surrounding Ethereum Foundation Spark Debate

chest

Concerns about the Ethereum Foundation's management have led to increased FUD, but development continues through various contributors.

user avatarArif Mukhtar

Ethereum Enters a Period of Stabilization Amid Market Instability.

chest

Ethereum has entered a rangebound structure following a strong rally, allowing the market to absorb gains and establish new support levels.

user avatarLuis Flores

Lingrid Identifies Ideal Buy Zone for Ethereum Amid Market Dip

chest

Crypto expert Lingrid highlights a 'Kill Zone' for Ethereum, suggesting optimal entry points for traders.

user avatarMaria Gutierrez

Bitcoin Faces Increasing Bearish Pressure as Key Support Levels Threatened

chest

Bitcoin is showing signs of weakness as bearish pressure builds below critical technical levels, with key support zones under threat.

user avatarDavid Robinson

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.