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- Upbit, South Korea’s largest cryptocurrency exchange, has reported unusual trading volumes in several altcoins.
- These altcoins include Tezos (XTZ), Chiliz (CHZ), Theta Fuel (TFUEL), Aave (AAVE), and Wax (WAXP).
- Anomalies in trading volumes have been particularly notable when compared to figures from Binance.
Discover why South Korea’s Upbit is experiencing unexpected surges in altcoin trading volumes today!
Sudden Spike in Tezos (XTZ) Trading Volume
In the past few hours, Tezos (XTZ) has seen a significant increase in trading volume on Upbit, skyrocketing from an average of $79,000 per 4-hour timeframe to $146,000, marking an 85.39% rise. Meanwhile, Binance witnessed a sharp 59.8% decline in XTZ trading volume, dropping from $625,000 to $254,000.
Chiliz (CHZ) Trading Activity on the Rise
Chiliz (CHZ) has also shown substantial growth on Upbit, with trading volumes surging from an average of $9 million per 4-hour period to $21 million, representing a 145.74% increase. On Binance, CHZ experienced a modest increase of 14.87%, from $9 million to $11 million.
Theta Fuel (TFUEL) Gains Momentum
Theta Fuel (TFUEL) trading volume on Upbit’s 1-hour chart witnessed a dramatic rise, increasing from an average of $1 million to approximately $3 million, a 170.39% surge. Binance also saw TFUEL trading volumes climb from $803,000 to $1 million.
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Sharp Increase in Aave (AAVE) Volumes
Aave (AAVE) experienced an extraordinary spike on Upbit’s 1-hour chart. Its average trading volume of $488 surged by 424.67% to $2,000. Contrarily, Binance observed a significant drop of 62.18%, with trading volume declining from $2,000 to $891.
Wax (WAXP) Trading Volume Sees Major Growth
Wax (WAXP) showed remarkable growth in Upbit’s 1-hour trading volume, going from $9 million to $23 million, a 154.85% increase. Over at Binance, WAXP trading volume increased by a modest 34.02%, rising from $3 million to $4 million.
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Conclusion
The recent uptick in trading volumes on Upbit across various altcoins such as Tezos, Chiliz, Theta Fuel, Aave, and Wax points to heightened trading activity and interest within the South Korean market. These metrics, when juxtaposed with Binance, highlight noticeable trading disparities. Investors should keep a close eye on these volumes for market sentiment and potential trading opportunities.
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