Unusual volume increases are observed in some altcoin pairs on Upbit, the largest cryptocurrency exchange in South Korea, where cryptocurrencies are extremely popular. Here are the altcoins in question and the volume changes on Binance in the same time period.
The 4-hour chart for Siacoin (SC) showed a notable increase in trading volume on Upbit. The 50 4-hour average volume, which is typically just above $1 billion, rose 67.91% to $1.7 billion. However, Binance reported a decline during the same period, with volume dropping 36.51% from $223 million to $141 million.
Similar trends were observed on the 1-hour charts for Civic (CVC) and Golem (GLM). CVC's 1-hour average 50 volume on Upbit increased from $3 million to approximately $9 million, a massive increase of 249.57%.
Meanwhile, GLM's volume increased from $3 million to nearly $7 million, an increase of 162.06%. Binance reported a decline for both altcoins.
Solar (SXP) and Steem (STEEM) also experienced unusual volume changes. SXP's average 50 1-hour volume on Upbit increased from $445,000 to $2 million, an increase of 337.11%.
The average 50-4-hour volume of STEEM increased by 147.98%, from $1 million to approximately $3 million. Binance reported a slight increase for SXP and a decrease for STEEM.
*This is not investment advice.
