After the halving in Bitcoin was over, unusual transaction volumes were detected in several altcoins on Upbit, South Korea's largest cryptocurrency exchange. The altcoins in question include Cardano (ADA), Loom Network (LOOM), 1inch (1INCH), Ankr (ANKR) and NEM (XEM).
The 4-hour chart for Cardano (ADA) showed a significant increase in trading volume on Upbit. The average 50 4-hour volume was $7 million, but the last recorded volume was around $14 million, indicating an increase of 96.96%. In Binance, the volume decreased by 8.50%, from an average of $46 million to $42 million.
Loom Network (LOOM) also saw a significant increase in trading volume on the 1-hour chart on Upbit. Average 1-hour volume of $50 million rose to $10 million, an increase of 215.10%. On Binance, the volume remained stable at $2 million.
1inch (1INCH) experienced a massive 407.13% increase in trading volume on the 4-hour chart on Upbit, with volume rising from an average of around $1.5 million to as high as $7 million. On Binance, the volume increased by 48.36%, from $3 million to $4 million.
Ankr (ANKR) recorded a 186.96% increase in 1-hour trading volume on Upbit, from an average of $6 million to $17 million. However, volume on Binance decreased by 10.08%, from $9 million to $8 million.
Finally, NEM (XEM) saw a significant increase in 1-hour trading volume on Upbit. Volume increased by 454.21%, from an average of $2 million to $13 million. On Binance, the volume decreased by 15.37% to $1 million.
*This is not investment advice.
