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

Optimism Releases Required Batcher Update v1170

Optimism has announced the release of opbatcher v1170, which is mandatory for operators using the batching infrastructure for OP Stack chains.

user avatarAndrew Smith

NEAR Developers Release First Candidate for nearcore 2140

The NEAR developers have published the first release candidate for nearcore 2140, introducing significant protocol and database changes.

user avatarJacob Williams

Lido Completes Winddown of Regular Simple DVT Clusters

Lido has successfully completed the winddown of its regular Simple DVT clusters, marking a significant step in the decentralization of its validator operations.

user avatarZainab Kamara

Avalanche Schedules Helicon Network Upgrade for September 22

Avalanche has announced the Helicon network upgrade for its mainnet, set to activate on September 22 at 1500 UTC.

user avatarSon Min-ho

Uniswap Proposes Protocol Fee Rollout to Circles Arc Blockchain

Uniswap Labs has introduced a proposal to extend its protocol fee collection and UNI burn infrastructure to the Arc blockchain.

user avatarAyman Ben Youssef

Aave V4 Now Live on Circle's Arc Blockchain

Aave V4 has officially launched on Circle's newly established Arc blockchain, featuring key assets such as USDC, EURC, cirBTC, and WETH.

user avatarTando Nkube

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.