Upbit, South Korea’s largest cryptocurrency exchange, has experienced unusual trading volume increases in altcoins such as IQ, QuarkChain (QKC), Algorand (ALGO coin), Sei (SEI) and Theta Fuel (TFUEL) in the last 24 hours. These sudden increases sparked speculation and curiosity in the cryptocurrency market. Here are the details…
Volume explosion in IQ, ALGO coin and QKC
IQ’s 4-hour chart shows a surprising increase in trading volume on Upbit. 4-hour volume, which averaged $29 million, jumped to $82 million, an increase of 176.73% in the last 24 hours. Additionally, QuarkChain (QKC) experienced a similar volume explosion on Upbit. Looking at the 1-hour chart, the average 1-hour volume of $3 million increased to $22 million, an increase of 685.54% in the last 24 hours. This phenomenal increase has made Upbit the most active exchange for QKC.
Popular altcoin Algorand (ALGO) also experienced an increase in trading volume on Upbit. The 1-hour volume, which is an average of 1 million dollars, increased by 280% in 24 hours. Thus, it approached 4 million dollars. On Binance, there was a more minimal increase and the volume increased by 24.07%. SEI, one of the recently popular altcoins, also experienced an increase in transaction volume on Upbit. 1-hour volume was at the level of 5 million dollars. However, it rose up to 16 million dollars and there is a net increase of 196.22%. On the other hand, there was a decrease in the same period on Binance and the volume decreased by 3.55%.
Why did the volume increases occur?
Theta Fuel (TFUEL) also showed a similar increase on its 4-hour chart. Previous data on the 50 4-hour chart was around $4 million. However, this number increased by 121.78% to approximately $8 million. In Binance, there was a 3.51% decrease in volume in the same period. The reasons behind these unusual volume increases on Upbit are not fully known. Some experts suggest that this may be due to the increased interest of South Korean investors in altcoins. Other possibilities include substances such as whale manipulation.
These sudden volume increases did not cause speculation or price fluctuations in the market. The unusual volume increases in altcoins on Upbit aroused curiosity in the cryptocurrency market. Although the reasons behind this situation are not fully known, it is important for investors to be careful in such situations and do detailed research before making their investments. Time will tell what will be exposed to high volume other than these altcoins in the coming period.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.