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

Richard Heart Detained in Istanbul Linked to Finnish Tax Investigation

Richard Heart, founder of HEX and PulseChain, has been detained by Turkish authorities in connection with a Finnish tax investigation.

user avatarJacob Williams

TD Cowen Increases Strive's Share Price Target Amid Bitcoin Holdings Surge

TD Cowen analysts raised Strive's share price target from 44 to 56 due to significant expansion of Bitcoin holdings to 35,595 BTC, noted in a research update on October 16.

user avatarZainab Kamara

Tether Invests in AI Infrastructure Startup AIsa

Tether has invested in AI infrastructure startup AIsa, contributing to its total funding of over $9 million to support autonomous AI applications.

user avatarSon Min-ho

Taiwan Restricts Access to Coinbase and Kalshi Ahead of Elections

Taiwanese authorities have restricted access to Coinbase and Kalshi websites due to concerns over election betting.

user avatarTando Nkube

Strategy Proposes Daily Dividends for STRC Preferred Stock

Strategy has conditionally declared daily dividends for its STRC preferred stock for November 2026, pending shareholder approval.

user avatarKofi Adjeman

Ripple Prime Expands Institutional Trading with New Derivatives Access

Ripple Prime introduces access to perpetual derivatives referencing traditional assets for eligible institutional clients.

user avatarNguyen Van Long

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.