Unusual Activity Spike in Trading Volumes of 5 Altcoins on South Korean Exchanges

Upbit, South Korea’s largest cryptocurrency exchange, has recently experienced unusual increases in trading volumes for several altcoins.

• Cosmos (ATOM) saw a significant increase in trading volume on the 1-hour chart. While the average last 50 1-hour volume on Upbit was $7,000, the last recorded volume increased by 702.34% to $53,000. In Binance, while the 1-hour average 50 volume was 38 thousand, the last recorded volume of 46 thousand indicated an increase of 22.84%.
• MultiversX (EGLD) also experienced an unusual increase in volume on its 1-hour chart. While the 1-hour average volume of 50 on Upbit was 732 dollars, it increased by 284.84% to 3 thousand in the last hour. On Binance, the average and last recorded volumes were both around $4k.
• On its 4-hour chart, Zilliqa (ZIL) increased its average trading volume from $32 million on Upbit to an impressive 92 million, an increase of approximately 187.74%. On Binance, the average volume was around 29 million dollars, while the last transaction volume was recorded as 34 million, a slight increase of approximately 14.26%.

• Tezos (XTZ) recorded an increase of approximately 411.52%, with the average trading volume on Upbit rising from $26,000 to 135,000 in the last hour. On Binance, the average and last recorded volumes were around 80 thousand and 94 thousand respectively, indicating a modest increase of approximately 17.85%.
• The Graph (GRT) also experienced an unusual increase in trading volume on Upbit over the last four hours. While the average transaction volume was around 953 thousand dollars before, it increased to one million dollars, an increase of approximately 52.96%. However, the average trading volume on Binance dropped from approximately five million dollars to three million, recording a decrease of approximately -23.66%.

*This is not investment advice.

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