Watch Out: 5 Altcoins in South Korea See Trading Volume Boom – Here’s the List
Upbit, South Korea’s largest cryptocurrency exchange, has seen unusual trading activity across several altcoins, with significant deviations from average volumes.
Market analysts are pointing to increased interest in altcoins like Wormhole (W), Beam (BEAM), Pyth Network (PYTH), Waves (WAVES), and Solana (SOL). These assets have seen notable increases in trading volume on Upbit that have diverged sharply from historical averages. Interestingly, the same patterns have not been consistently reflected on Binance, the world’s largest cryptocurrency exchange, suggesting that the volume increases may be localized to the South Korean market.
Wormhole, a key part of cross-chain interoperability, witnessed a trading volume increase of over 112% on Upbit’s 4-hour chart. While its activity on Binance has slightly decreased, the sharp rise on Upbit suggests intensifying demand in South Korea’s crypto trading circles.
Beam, a privacy-focused cryptocurrency, saw the most dramatic volume increase, with 4-hour trading volume on Upbit increasing by a staggering 1,833%. This increase dwarfs any activity observed on Binance, where Beam’s trading volume dropped by nearly 40% over the same time frame.
Pyth Network saw a 176% increase in 1-hour trading volume on Upbit. Similarly, Waves saw a 668% increase on Upbit’s 4-hour chart, while Binance saw a more modest 44% increase. Solana also saw local gains, with trading volume on Upbit increasing by 182% in one hour, while on Binance it was up 48%.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Michael Saylor hints at MicroStrategy's upcoming Bitcoin purchase
Bitcoin still has ’a long way to go' at $90K: Cathie Wood
Polish presidential candidate pledges support for strategic Bitcoin reserve
New spot margin trading pair — HIPPO/USDT, GOAT/USDT!
We are thrilled to announce that Bitget has launched isolated spot margin trading for HIPPO/USDT, GOAT/USDT. New listing perk: To celebrate the listing of new coins, Bitget will distribute spot leverage cut-rate coupons or trading bonuses to users' accounts at random. These coupons can be used to l