Upbit, South Korea’s leading cryptocurrency exchange, is raising the alarm in the digital currency world with the detection of significant transaction volume increases in various altcoins. These notable developments created significant excitement in the cryptocurrency market. Altcoin projects at the center of this surge include NEM (XEM), Siacoin (SC), Metal DAO (MTL), Lisk (LSK), and Hive (HIVE), each of which play unique roles in the crypto ecosystem.
NEM recorded a volume of 30 billion dollars
NEM (XEM) is making waves with a significant increase in trading volume on Upbit. The last recorded volume was $30 million, representing a staggering 108.13% increase from the average 4-hour volume of $14 million. NEM is famous for its smart asset Blockchain, which offers a flexible and secure platform for businesses to explore Blockchain technology and crypto assets.
Siacoin recorded $194 million volume
Siacoin (SC) is in the spotlight as it experienced an increase in trading volume on Upbit over a short period of time. The last recorded volume reached $194 million, marking a staggering increase of 189.74% compared to the average 1-hour volume of $67 million. With its decentralized cloud storage network, Siacoin redefines data storage and distribution, allowing users to rent storage space from each other using Blockchain technology.
Altcoin Metal DAO is also in the focus of South Koreans
Metal DAO (MTL) is attracting attention with a significant increase in 4-hour trading volume on Upbit. The last recorded volume of $3 million represents a significant increase of 124.41 percent compared to the average volume of $1 million. Metal DAO plays a vital role in bridging the gap between traditional financial services and the cryptocurrency world, offering a range of products and services to simplify crypto usage for everyday users.
LSK was one of the notable altcoin projects
On the other hand, Lisk (LSK) continues the wave of increase in trading volume on Upbit. The last recorded volume of $544 thousand represents a significant increase of 153.90% compared to the average 1-hour volume of $504 thousand. Lisk is an open-source Blockchain platform that empowers developers to build decentralized applications in JavaScript, making Blockchain development accessible and efficient.
Community-focused Hive is also popular in South Korea
Finally, Hive (HIVE) stands out with an impressive increase in trading volume on Upbit. The last recorded volume of $9 million represents a massive 281.46 percent increase compared to overall volume. Hive is a community-driven blockchain that provides users with a platform for social networking, content creation, and more.
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