Cryptocurrencies are very popular in South Korea. That’s why traders and investors are keeping a close eye on its data on Upbit, the country’s largest crypto exchange. 5 altcoins are seeing a remarkable increase in trading volume on the cryptocurrency exchange.
First altcoin project Bitcoin Gold (BTG)
The developer team founded Bitcoin Gold (BTG) in 2017 with the aim of being a user-friendly alternative to Bitcoin. The BTG network aims to combine the security and robustness of the Bitcoin Blockchain with the opportunity to experiment and develop its features. Altcoin’s 1-hour trading volume on Upbit recorded a massive 664 percent increase. Meanwhile, BTG was changing hands at $12.74 at press time, up 1.71% on a daily basis.
Stratis (STRAX) had an explosion
Chris Trew founded Stratis Group Ltd., the company behind the Stratis platform, in 2016. Trew was aiming to develop an enterprise-focused Blockchain platform, which he felt was lacking in the industry at the time. Believing that Bitcoin would become dominant in the crypto space, meaning that the codebase would be continually improved over time, he decided to base the platform on the Bitcoin (BTC) protocol. STRAX saw a nearly 500 percent increase in trading volume on the South Korean crypto exchange. Altcoin price rose 1.91% on a daily basis to $0.4842 at press time.
Bitcoin Cash (BCH) also on the list
The developers created Bitcoin Cash (BCH) as an alternative to the first cryptocurrency, Bitcoin (BTC). The project is a peer-to-peer electronic cash system that aims to be a solid global currency with fast payments, micro fees, privacy and larger block size. As a permissionless, decentralized cryptocurrency, Bitcoin Cash needs trusted third parties. BCH’s 1-hour trading volume on Upbit has increased by 380.46 percent, according to the latest data. However, the altcoin price fell 1.24% on a daily basis to $113.45.
MultiversX (EGLD) also saw a significant increase
MultiversX is a Blockchain protocol that aims to offer extremely high transaction speeds using sharding. cryptocoin.comAs you can follow from Elrond, his project later became MultiversX. The project describes itself as a technology ecosystem for the new internet that includes fintech, decentralized finance (DeFi) and the Internet of Things. The smart contracts execution platform has the potential to process 15,000 transactions per second. It also has a six-second delay time. What’s more, it has a low transaction cost of $0.001. EGLD’s 1-hour Upbit trading volume recorded a significant increase of approximately 250 percent. Meanwhile, the altcoin was changing hands at $38.47, up 3.40% on a daily basis at the time of base.
Latest altcoin project Augur (REP)
Augur (REP) aims to leverage the wisdom of the crowd through prediction markets on a protocol owned and operated by Ethereum-based Reputation token holders. In these markets, it is possible for users to bet on the results of events such as company performance, election results or even natural events by purchasing stocks that support or reject the proposed results of such specified events. REP’s 4-hour volume on the crypto exchange saw a nearly 82 percent increase. Thus, the transaction volume of the altcoin project reached 1 million dollars. At press time, the REP was trading at $7.10, up nearly 2% on a daily basis.
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