Watch Out: 5 Altcoins Experience Unusual Volume Spikes on South Korean Cryptocurrency Exchanges
Surprisingly, unusual trading volumes were detected in several altcoins on Upbit and Binance, South Korea’s largest cryptocurrency exchange. Here are the altcoins experiencing a volume explosion on Upbit.
Volume data is in dollars.
The 1-hour chart for Avalanche (AVAX) showed a significant increase in trading volume on Upbit. Average 50 1-hour volume was around 34k, but the last recorded volume was 90k, up 169.20%. However, on Binance, the volume decreased by 25.94%, from an average of 320 thousand to 237 thousand.
Stellar (XLM) and IOTA also experienced an increase in trading volume on the 4-hour chart on Upbit. Stellar’s 4-hour average 50 volume of 14 million jumped to 33 million, an increase of 132.15%. On Binance, the volume increased by 41.08%, from 19 million to 26 million.
IOTA’s average 50 4-hour volume on Upbit increased from 3 million to 8 million, showing a huge increase of 182.20%. However, on Binance, volume remained almost flat at 4 million, with a slight decrease of 2.10%.
Civic (CVC) and Polkadot (DOT) followed suit with significant volume increases on Upbit. Civic’s 1-hour average 50 volume increased from 2 million to 7 million, an impressive increase of 356.04%. In Binance, the volume decreased by 22.28%, from 558 thousand to 434 thousand.
Polkadot’s 4-hour average 50 volume on Upbit doubled from 244K to 511K, an increase of 109.41%. On Binance, the volume increased by 48.01%, from 1 million to 2 million.
*This is not investment advice.
