Unusual Volume Spike Detected in 5 Altcoins on South Korean Cryptocurrency Exchanges

Upbit, South Korea’s largest cryptocurrency exchange, has experienced unusual increases in the trading volume of several altcoins in recent hours.

The altcoins in question include IQ, QuarkChain (QKC), Algorand (ALGO), Sei (SEI) and Theta Fuel (TFUEL).

The 4-hour chart for IQ showed a significant increase in trading volume on Upbit. The average 50 4-hour volume was $29 million, but the last recorded volume was a staggering $82 million, showing a percentage change of 176.73%. On the other hand, a more modest increase was seen on Binance, the world’s largest cryptocurrency exchange. IQ trading volume on Binance increased by 17.18%.

On the other hand, QuarkChain (QKC) also experienced a large increase on its 1-hour chart on Upbit. While the average 50 1-hour volume in previous data was around 3 million dollars, the last recorded volume was 22 million dollars, a total increase of 685.54%. In the same time period, the volume change on Binance was interestingly downwards and there was a 33.98% decrease in volume.

On the popular altcoin Algorand (ALGO) side, a transaction increase was also recorded on South Korea’s largest cryptocurrency exchange. While previous data showed 50 1-hour ALGO volume on Upbit around $1 million, the latest volume pointed to a figure close to $4 million. A more minimal increase was observed on Binance in the same period and the volume increased by 24.07%.

On the other hand, a volume increase was observed on Upbit for SEI, one of the new altcoins that has been on the agenda recently. 50 1-hour volume increased from $5 million on Upbit to $16 million, with a net increase of 196.22%. On the other hand, a decrease was observed on Binance in the same period and the volume decreased by 3.55%.

Finally, interesting data was obtained on TFUEL’s 4-hour chart. According to data received from Upbit, while the previous data on the 50 4-hour chart of the altcoin was around 4 million dollars, this number climbed to approximately 8 million dollars with an increase of 121.78%. In Binance, a decrease in volume was observed in the same period, with a decrease of 3.51%.

*This is not investment advice.

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