Recently, South Korea’s leading cryptocurrency exchange Upbit caused a stir in the crypto community with some unexpected increases in altcoin trading volumes. Known for causing fluctuations in the cryptocurrency world from time to time, Upbit’s recent choices have resulted in notable changes in several altcoins. Let’s examine the features of this unusual phenomenon, focusing on the affected altcoins and the corresponding volume changes observed on the famous Binance exchange during the same period.
South Koreans are making large transactions in various altcoin projects
Storj (STORJ) attracted attention with a significant increase in trading volume on the 4-hour chart. Upbit witnessed a significant increase of 107.14 percent, with its volume average rising from $3 million to $6 million. Storj is a decentralized cloud storage platform that leverages blockchain technology to create a secure, efficient and decentralized storage network. On the other hand, Celo (CELO) experienced a dramatic increase in its 1-hour chart volume. Upbit reported a staggering 499.62 percent increase, with average 1-hour volume jumping from $277,000 to $2 million. Celo is a Blockchain platform that aims to make decentralized financial systems and tools accessible to anyone with a smartphone.
Tezos (XTZ) exhibited distinctive volume changes on its 1-hour chart. On Upbit, 1-hour 50 volume witnessed a phenomenal rise from $65k to $259k, marking an increase of over 300 percent. Meanwhile, Binance posted a more modest increase of 8.15 percent, with volume climbing from 116,000 to 126,000. Tezos (XTZ) is a decentralized blockchain platform that enables the creation and execution of smart contracts. It is designed as a self-modifying Blockchain.
Interesting data for TFUEL
Theta Network (THETA) witnessed a significant increase in 4-hour chart volume. Upbit reported a significant increase of 195.52 percent, with 4-hour average volume increasing from 604 thousand to 2 million. Theta Fuel (TFUEL) experienced different trends in trading volume on the two exchanges. Upbit witnessed an impressive 240.39 percent increase in average 1-hour volume, jumping from around 1 million to nearly 5 million. Theta is a decentralized Blockchain-based platform designed to support and incentivize video streaming and content distribution.
As Upbit continues to make waves in the cryptocurrency market, traders and enthusiasts are closely watching these unexpected changes, wondering what the future holds for these altcoins and whether Upbit’s influence will continue to shape their trajectories. Stay tuned for further developments in this fascinating narrative.
