Upbit, South Korea's largest cryptocurrency exchange, has seen an unusual increase in trading volumes for several altcoins relative to Binance. The altcoins in question include Qtum (QTUM), Arbitrum (ARB), Decentraland (MANA), Kava (KAVA) and StormX (STMX).
The 4-hour chart for Qtum (QTUM) showed an average volume of $3 million, but the last recorded volume was surprisingly around $9 million, indicating a 165.23% increase on Upbit. On Binance, the 4-hour average 50 volume was $758 thousand, while the last recorded volume was $892 thousand, an increase of 17.65%.
Arbitrum (ARB) also saw a significant increase on the 1-hour chart. While the average 50-hour volume on Upbit was $2 million, this figure increased by 166.44% to nearly $4 million. On Binance, the volume increased from an average of 5 million dollars to approximately 7 million dollars, showing an increase of 38.89%.
Decentraland (MANA) followed the trend with a 168.10% increase on Upbit, with 50 1-hour average volume rising from $2 million to $4 million. Volume on Binance increased by 21.79%, from $2 million to $3 million.
Kava (KAVA) also made its mark on the 4-hour chart with a 128.45% increase on Upbit, with the 50 4-hour average volume rising from $2 million to $5 million. However, volume on Binance decreased by 28.43%, from approximately $3 million to $2 million.
Finally, StormX (STMX) rounded out the chart with a massive 199.62% increase on Upbit, with average 50 1-hour volume rising from $90 million to $270 million. On Binance, the volume increased by 8.10%, from $56 million to $60 million.
*This is not investment advice.