South Korea’s largest cryptocurrency exchange Upbit has recorded dramatic increases in trading volumes for several altcoins.
These notable increases observed on the one-hour and four-hour trading charts indicate high activity, which contrasts with trends on global platforms like Binance.
One of the notable moves was seen on Beam (BEAM). On its four-hour chart, BEAM’s trading volume on Upbit skyrocketed to $63 million, a 212.77% increase from its 50-period average of $20 million. However, the picture was quite different on Binance, where BEAM’s volume dropped by 39.80% from an average of $6 million to $4 million.
Another token that caught our attention was LayerZero (ZRO). On the one-hour chart, ZRO saw an explosive 365.80% increase on Upbit, with trading volumes reaching $190,000 compared to an average of $41,000. Binance saw a more modest 45.63% increase, with volumes rising from $97,000 to $141,000.
Bounce Token (AUCTION) also saw a significant increase in trading volume on Upbit, rising 246.49% from an average of $3,000 to $11,000 on the one-hour chart. Again, the movement on Binance differed significantly with a 56.76% decrease in volume, falling from an average of $4,000 to just $2,000.
Theta Fuel (TFUEL) followed a trend of significant volume increases on Upbit, rising 339.14% in a one-hour period, from an average of $418,000 to $2 million. On Binance, volume slightly decreased, dropping 3.38% to $471,000 from an average of $488,000.
Stargate Finance (STG) contributed to this pattern with a 165.54% increase in trading volume on Upbit, rising from $137,000 to $363,000 in a one-hour time frame. Meanwhile, Binance saw a 19.60% drop, with STG volumes falling from $175,000 to $140,000.
*This is not investment advice.
