South Korea’s largest cryptocurrency exchange Upbit has seen an unusual wave of trading activity for several altcoins in the past few days, with volumes rising well above their typical levels.
Cryptocurrencies such as Siacoin (SC), EOS, Jupiter (JUP), Icon (ICX) and Bitcoin Gold (BTG) attracted attention in the market by recording significant increases in trading volume.
On the 1-hour chart, Siacoin saw a dramatic increase in trading volume on Upbit. While the average 50-period 1-hour volume usually hovers around $46 million, the latest figure rose by 211.43% to $143 million. On Binance, SC also saw a more modest, 41.13% increase from $17 million to $24 million.
EOS also saw significant trading activity. On Upbit, the 1-hour chart showed a sharp jump from an average of $165,000 to $608,000, up 268.31%. Binance saw a smaller increase in volume, rising from $907,000 to $1.2 million, marking a 33.91% change.
The 4-hour chart for Jupiter on Upbit revealed an unusual increase in trading volume, jumping from an average of $602,000 to $1.3 million, a 122.61% increase. On Binance, volume rose by 12.31%, remaining around $2 million.
Icon saw a significant increase on Upbit’s 1-hour chart, with trading volumes rising by 163.12% from $127,000 to $333,000. Interestingly, Binance saw a 17.61% drop in ICX trading volume from $240,000 to $197,000.
The most striking change was seen with Bitcoin Gold on the 4-hour chart. Upbit saw a staggering 540.54% increase in trading volume, rising from $17,000 to $108,000. In contrast, Binance saw a 31.93% decrease in volume, falling from $29,000 to $19,000.
*This is not investment advice.
