en.bitcoinsistemi.com
Unusual trading volumes for several altcoins have been detected on South Korea’s largest cryptocurrency exchange Upbit.
Solar (SXP), Jupiter ($JUP), Beam ($BEAM), Loom Network (LOOM), and Mina ($MINA) tokens saw significant increases in trading volume, especially when compared to the 50-period moving average. Here is a breakdown of the unusual activity:
Solar (SXP)
On Upbit, Solar (SXP) saw a 150.84% increase in 1-hour trading volume, with recent trading levels rising to $101,000, compared to its 50-period average of $40,000. In contrast, Binance saw a 19.55% decrease in trading volume, falling from an average of $99,000 to $80,000 in the same period.
Jupiter ($JUP)
The most striking increase was seen in Jupiter ($JUP), which saw its 1-hour volume on Upbit jump by 242.62%. Trading volume rose from an average of $47,000 to $162,000. On Binance, the change was more modest, rising by 5.76% from $403,000 to $426,000.
Beam ($BEAM)
Beam ($BEAM) also saw a significant jump on Upbit, with its 4-hour volume increasing by 242.54%. The most recent recorded volume reached $122 million, well above the 50-period average of $35 million. Binance, on the other hand, saw a 39.80% drop in 4-hour trading volume for $BEAM, falling from $6 million to $4 million.
Loom Network (LOOM)
Loom Network (LOOM) saw a significant increase in trading activity on Upbit, where its 1-hour volume increased by 322.13% to $4 million compared to its average of around $1 million. Binance saw a more modest increase of 30.31%, with volumes rising from $674,000 to $878,000.
Mina ($MINA)
Mina ($MINA) also experienced unusual trading volume, with 1-hour volume on Upbit increasing by 157.37%, jumping from an average of $66,000 to $170,000. On Binance, $MINA’s trading volume dropped by 53.75%, from $187,000 to $86,000, and a sharp decline in trading activity was seen.
*This is not investment advice.