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Watch Out: Unusual Trading Volume Increases in 5 Altcoins in South Korea
Watch Out: Unusual Trading Volume Increases in 5 Altcoins in South Korea
In South Korea, where the cryptocurrency community is intensely active, there are unusual increases in trading volumes for some altcoins.
Author:
Mete Demiralp
20.10.2024 – 16:56
Update:
7 seconds ago
0
Unusual trading activity has been detected on South Korea’s largest cryptocurrency exchange Upbit, particularly in altcoins such as Bitcoin Gold (BTG), Aave (AAVE), Theta Network (THETA), Pyth Network (PYTH), and Tezos (XTZ).
On the 1-hour chart, Bitcoin Gold saw a significant increase in trading volume on Upbit. The average volume over the last 50 hours was $4,000, while the latest hourly increase was $13,000, representing a 217.26% increase. On Binance, the trend reversed, with volume dropping by 28.60% from $27,000 to $19,000.
Aave saw a 225.80% increase in volume on Upbit, rising from an average of $419 to $1,000 in an hour. Binance saw a smaller but still significant increase of 39.06%, with volume rising from $3,000 to $4,000.
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Theta Network showed one of the most significant increases on Upbit, where trading volume increased by 296.28% from $16,000 to $62,000. On Binance, the increase was more modest at 29.40%, with volume rising from $75,000 to $97,000.
Pyth Network saw a notable increase in activity on Upbit, with trading volumes increasing by 375.57% from $251,000 to $1 million in just one hour, while Binance saw a mere 9.96% increase in the same period, with volumes rising from $765,000 to $841,000.
On the 4-hour chart, Tezos saw a 167.84% increase on Upbit as volume rose from $66,000 to $176,000. In contrast, Binance saw a 29.52% drop, with volume falling from $263,000 to $185,000.
*This is not investment advice.
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