Attention: Unusual Trading Volumes Are Seen in These 4 Altcoins on South Korean Stock Exchanges!

A recent analysis of trading volumes on Upbit, South Korea's largest and most popular cryptocurrency exchange, found several altcoins exhibiting unusual trading activity.

These significant changes in trading volumes caught the attention of market watchers and raised questions about the factors that caused these sudden changes. Altcoins experiencing unusual volume patterns include Waves (WAVES), Ontology Gas (ONG), Algorand (ALGO), and VeChain (VET).

Waves (WAVES)

WAVES, a decentralized platform that enables developers to build custom blockchain-based solutions, has seen a notable increase in trading volume on the 4-hour chart.

Upbit reported an average of 619,000 volumes over the last 50 four-hour periods, with the latest data showing a staggering increase of over 1 million representing a notable percentage change of 115.48%. Meanwhile, Binance, another leading cryptocurrency exchange, recorded a more modest percentage increase of 18.24% over the same period.

Ontology Gas (ONG)

Ontology-related altcoin ONG, a high-performance public blockchain, also experienced a surge in trading volume on the 1-hour chart.

Upbit's average volume over the last 50 one-hour periods was 95,000, with the latest figures showing an extraordinary increase to 255,000, marking a notable percentage change of 168.10%. Binance, on the other hand, showed a slight decline of -5.97% over the same period.

Algorand (ALGO)

The native cryptocurrency of the Algorand blockchain platform, ALGO, showed a significant increase in trading volume on the 1-hour chart.

Upbit recorded an average of 441,000 volumes over the last 50 one-hour periods, which jumped to a staggering 2 million in the last trading session, reflecting a remarkable percentage change of 250.55%. Binance, on the other hand, experienced a notable 37.21% percentage change for ALGO during the same period.

VeChain (VET)

Finally, the digital currency VET associated with VeChain, a blockchain platform for supply chain management and smart contracts, showed a phenomenal increase in transaction volume on the 4-hour chart.

Upbit's average volume over the last 50 four-hour periods was 12 million, but the latest data showed an unprecedented increase to 75 million, which marks a significant percentage change of 542.78%. By comparison, Binance experienced a relatively smaller percentage change of 45.91% for VET.

*Not investment advice.