Some Altcoins on South Korean Cryptocurrency Exchanges See Unusual Volume Spikes

Upbit, South Korea’s largest cryptocurrency exchange, has witnessed some significant volume increases across several cryptocurrencies over the past few hours.

These volume changes in Upbit were much higher than those in Binance, the world’s largest cryptocurrency exchange by trading volume.

According to the data, the following altcoins experienced unusual volume gains on Upbit. Volume data have been rounded to the nearest value.

• EOS: The native token of the EOS blockchain has reached $2 million, registering a 55.36% increase in 4-hour volume on Upbit. On Binance, however, the 4-hour volume of EOS fell 39.26% to $1 million.
• IMX: Immutable X, the layer-2 scaling solution for NFTs, reached $97K, up 227.80% in 1-hour volume on Upbit. On Binance, the 1-hour volume of IMX increased by 29.21% to $125,000.
• ENJ: Enjin hit $333,000, up 198.04% in 1-hour volume on Upbit. On Binance, ENJ’s 1-hour volume fell 70.76% to $62K.
• ADA: Cardano’s native token reached $4 million, showing a 61.67% increase in 4-hour volume on Upbit. On Binance, ADA’s 4-hour volume fell by 48.54%, or nearly half, to $7 million.
• ALGO: Algorand reached $3 million in 1-hour volume on Upbit, up 213.90%. On Binance, the 1-hour volume of ALGO fell by 23.33% to $1 million.

Upbit recently surpassed Coinbase to become the world’s second-largest cryptocurrency exchange by volume.

*Not investment advice.