Unusual Surge in Trading Volumes for 5 Altcoins in South Korea
In South Korea’s largest cryptocurrency exchange, Upbit, there has been a significant increase in the trading volumes of several altcoins. This recent market activity has revealed some notable anomalies.
One of the most remarkable increases was observed in STP (STPT) on the 1-hour chart. Upbit recorded an astonishing surge in trading volume for this altcoin, skyrocketing from an average of $1.5 million to $13 million, marking an 841.65% increase. Binance, on the other hand, showed a more modest increase for STP, with volumes rising from approximately $1.6 million to $2 million, representing a 21.35% change.
Loom Network (LOOM) also experienced a significant surge in trading volume on the 4-hour chart. Upbit’s volumes for LOOM jumped from an average of $15 million to $31 million, a 101.54% increase. Meanwhile, Binance reported a more stable volume change for LOOM, remaining around $6 million with a slight increase of 11.08%.
Theta Network (THETA) witnessed a dramatic increase on Upbit’s 1-hour chart, with trading volumes rising from $29K to $103K, a 260.23% surge. In contrast, Binance recorded a significant decline in THETA’s trading volumes, dropping by 84.48% from $189,000 to $29,000.
Blur (BLUR) showed a significant increase in trading volumes on its 1-hour chart on Upbit, rising from $1 million to $3 million, representing an increase of 175.23%. However, Binance experienced a 25.30% decrease in BLUR trading volumes from $955 thousand to $713 thousand.
Furthermore, aelf (ELF) exhibited significant trading activity on the 4-hour chart on Upbit, with volumes rising from $5 million to $18 million, recording a jump of 288.63%. In contrast, Binance saw a more moderate increase for ELF, with volumes increasing from $3 million to $4 million, an increase of 31.20%.
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