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South Korea’s largest cryptocurrency exchange Upbit reported significant increases in trading volumes across a variety of altcoins, with some seeing sharp increases in activity over the past hour. Here’s a breakdown of the most notable moves:
One of the notable moves occurred on The Graph (GRT), which saw a significant jump in 1-hour trading volume on Upbit. Volume rose by 158.17% from an average of $720,000 to nearly $2 million. This increase outpaces GRT’s performance on Binance, where volume remained stable at around $1 million and only changed by 7.86%.
Loom Network (LOOM) posted even more dramatic numbers. Its 1-hour volume on Upbit jumped from an average of $82 million to $623 million, representing an eye-popping 658.29% increase. In contrast, Binance reported a much more modest 30.31% increase during the same period.
Another altcoin that saw unusual activity was Pendle Network (PENDLE), whose 1-hour volume on Upbit more than doubled from $707,000 to $2 million, a 172.55% increase. On Binance, PENDLE’s trading volume increased by 35.23%, still significant but much less than the movement seen on Upbit.
Meanwhile, Cosmos (ATOM) saw a sharp increase in 4-hour trading volume on Upbit, rising 142.87% from an average of $61,000 to $148,000. However, in contrast to the strong performance on Upbit, ATOM’s 4-hour volume on Binance saw a slight decline, decreasing by 9.73%, indicating a possible divergence in market behavior between the exchanges.
Finally, Beam (BEAM) also saw a surge in its 4-hour volume on Upbit, rising from $114 million to $352 million, marking a 209.70% increase. However, the altcoin experienced a sharp decline on Binance, with its 4-hour volume dropping by 39.80%.
*This is not investment advice.