Watch Out: Some Altcoins on Upbit, South Korea’s Largest Cryptocurrency Exchange, Are Experiencing Extraordinary Volume Spikes

Upbit, South Korea’s largest cryptocurrency exchange, reported extraordinary trading volumes on several altcoins.

Unusual volumes were detected on the 4-hour and 1-hour charts of Bitcoin Gold (BTG), Ankr (ANKR), Decentraland (MANA), Aptos (APT) and Arbitrum (ARB).

On the 4-hour chart, Bitcoin Gold showed a significant increase in trading volume on Upbit. While the average 50 4-hour volume was $133,000, the last recorded volume was $401,000, an increase of 201.12%. In comparison, Binance reported a decline of 31.93% during the same period.

Ankr also experienced an increase in trading volume on the 1-hour chart on Upbit. While the average 50 1-hour volume was $3 million, this figure increased by 200.11% to $9 million. Binance reported an insignificant change of -0.15%.

Decentraland’s 4-hour chart on Upbit showed an average of 50 4-hour volumes of $2 million, up 90.53% to $4 million. Binance also reported a 40.95% increase.

On the 1-hour chart, Aptos showed a significant increase in trading volume on Upbit. While the average 50 1-hour volume was $15,000, this figure increased to $44,000, an increase of 189.85%. Binance, on the other hand, reported a slight increase of 7.26%.

Arbitrum also experienced an increase in trading volume on the 1-hour chart on Upbit. While the average 50 1-hour volume was $469,000, this figure increased by 234.43% to $2 million. Binance also reported a 43.03% increase.

*This is not investment advice.