Upbit, South Korea's largest cryptocurrency exchange, has recorded unusual increases in trading volumes of several altcoins. Upbit is also the second largest cryptocurrency exchange in the world after Binance.
Axie Infinity (AXS)
The one-hour chart for Axie Infinity (AXS) showed a significant increase in trading volume on Upbit. The average 50 1-hour volume was $32k, but the last recorded volume reached $196k, an increase of 513.19%. On Binance, the change was more modest, with a 10.06% increase from an average volume of $55,000 to $60,000.
PlayDapp (PLA)
PlayDapp (PLA) also saw a significant increase in trading volume on Upbit. 50 1-hour volumes, averaging $119k, jumped to $622k, an increase of 421.87%. However, volume on Binance decreased slightly by 4.49%, from an average of $77,000 to $73,000.
Polymesh (POLYX)
Polymesh (POLYX) trading volume on Upbit nearly tripled from an average of 50 1-hour volumes of $216K to 637K, an increase of 194.32%. In contrast, volume on Binance decreased by 17.88%, from an average of $224k to $184k.
JUST (JST)
JUST (JST) experienced a significant increase in trading volume on Upbit, with average 50 1-hour volume rising 174.89% from $437k to 1 million. On Binance, the volume increased by 40.69%, from an average of 984 thousand dollars to 1 million.
Arbitrum (ARB)
Finally, Arbitrum (ARB) saw a more than doubling in trading volume on Upbit, posting a 233.70% increase from 50 1-hour volumes averaging $313K to $1M. In Binance, there was a 26% volume increase in the same time period.
*This is not investment advice.