Unusual Trading Volume Explosion in 5 Altcoins in South Korea

Unusual trading volumes were observed for some altcoins on South Korea’s largest cryptocurrency exchange Upbit.

Tezos (XTZ) was one of the notable assets, with its one-hour trading volume increasing by 262.51% to $26,000, well above its normal average of $7,000. Interestingly, Tezos’ volume on Binance decreased slightly by 6.45%, reflecting the contrast in trader behavior between the two exchanges.

Another significant increase was seen in STP (STPT), with its volume increasing by 162.25% on Upbit from $249,000 to $654,000. Meanwhile, Binance noted a significant 24.42% decrease in STP’s trading activity.

Hedera (HBAR) also saw notable activity on Upbit, with a nearly 300% increase in four-hour trading volume, rising from $3 million to $9 million. Binance reported a smaller but still significant increase of 40.95% for the same asset.

Ethereum Name Service (ENS) saw its trading volume nearly triple on Upbit, rising 193.9% from its $8,000 average to $23,000. Binance also saw growth, with a 33.56% volume increase for ENS. This increase in activity on ENS may be due to Ethereum founder Vitalik Buterin recently trading on the platform.

Finally, Kava (KAVA) saw a sharp 256.18% increase in one-hour trading volume on Upbit, climbing from its $52,000 average to $186,000. In contrast, Binance’s trading activity for Kava increased modestly by 5.73%.

*This is not investment advice.