Recent market activity in South Korea’s largest cryptocurrency exchange, Upbit, has seen unusual spikes in trading volume for several altcoins, including IOST, IOTA, HBAR, DOT, and ASTR.
Significant Volume Spikes Across Multiple Timeframes
Both the 1-hour and 4-hour charts reveal a substantial increase in local trading interest and market activity, indicating heightened attention from traders.
IOST saw a remarkable volume increase on Upbit’s 4-hour chart, with trading volume jumping from $21 million to $39 million, an 85.02% rise. In contrast, Binance reported a decline in IOST volume, falling from $44 million to $31 million, marking a 29.61% decrease.
IOTA also experienced a significant spike on Upbit’s 1-hour chart, with trading volume rising from $320,000 to $1 million, a staggering 219.02% increase. Binance, on the other hand, showed more modest growth for IOTA, with volume increasing from $621,000 to $720,000, a 15.98% rise.
HBAR recorded a sharp increase on Upbit’s 1-hour chart, with trading volume climbing from $981,000 to $3 million, a 177.38% gain. Binance saw growth in HBAR as well, with volume increasing from $5 million to $7 million, a 43.58% rise, though still trailing Upbit’s pace.
DOT exhibited a strong surge on Upbit, with 1-hour volume rising from $21,000 to $71,000, a massive 235.34% increase. Binance reported an increase in DOT trading too, but with a smaller 43.04% rise, going from $87,000 to $124,000.
ASTR also displayed similar activity, with Upbit’s 1-hour trading volume jumping from $756,000 to $2 million, a 213.84% increase. In contrast, Binance’s volume for ASTR remained steady, slightly dropping from $2 million, showing a 2.77% decline.
The sharp contrast in trading activity between Upbit and Binance highlights the strong local interest in these altcoins in South Korea, making them key tokens to watch closely for future market movements.
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