Altcoins
Abnormal increase in volume of CHZ Coin and those 4 Altcoins!
Upbit, South Korea’s largest cryptocurrency exchange, has seen unusual trading volumes in several altcoins in recent days. Among these altcoins, Tezos (XTZ), Chiliz (CHZ coin), Theta Fuel (TFUEL), Aave (AAVE), and Wax (WAXP) stand out. The significant increases in volume in these altcoins on Upbit have attracted the attention of market participants and have drawn attention to this exchange.
Huge increase in volumes of Tezos (XTZ) and Chiliz (CHZ coin)
Tezos (XTZ) has shown a significant increase in volume on the 4-hour charts on the Upbit exchange. While the 50 4-hour average volume was $79,000, the latest recorded volume reached $146,000, representing an increase of 85.39%. However, trading volume on Binance has decreased by 59.8%, from an average of $625,000 to $254,000. This shows that the demand for Tezos transactions on Upbit is increasing, while it is decreasing on Binance.
Chiliz (CHZ) also saw a sharp increase in trading volume on Upbit. While the 50 4-hour average volume was $9 million, this figure increased by 145.74% to $21 million. On Binance, the trading volume increased by 14.87%, from $9 million to $11 million. This huge increase in Chiliz trading volume on Upbit shows that investors are trading more on this platform.
Significant changes in trading volumes of Theta Fuel (TFUEL) and Aave (AAVE)
Theta Fuel (TFUEL) has seen a significant increase in trading volume on the 1-hour chart on Upbit. While the 50 1-hour average volume was $1 million, it increased by 170.39% to around $3 million. On Binance, the trading volume increased from an average of $803,000 to $1 million. These increases indicate that TFUEL is seeing an increase in trading volume on Upbit and Binance exchanges.
Hail (AAVE) also saw a sharp increase in trading volume on the hourly chart of Upbit. The 50 1-hour average volume jumped from $488 to $2,000, an increase of 424.67%. However, trading volume on Binance decreased by 62.18%, from an average of $2,000 to $891. This shows that Aave transactions increased significantly on Upbit and decreased on Binance.
What’s behind the tip?
Wax (WAXP) also saw a significant increase in trading volume on the hourly chart of Upbit. The 50 1-hour average volume increased from $9 million to $23 million, an increase of 154.85%. On Binance, the trading volume increased by 34.02%, from $3 million to $4 million. This huge increase in Wax trading volume on Upbit shows that investors tend to trade more on this platform.
The unusual trading volumes observed in several altcoins on the Upbit exchange have attracted the attention of market participants. These increases in volume show that the Upbit exchange is experiencing increased interest in these altcoins, and this creates differences in trading volumes on other exchanges such as Binance. The reasons for the increase in trading volumes on Upbit may include the fact that investors are more active on this exchange, the advantages offered by Upbit, and the dynamics of the South Korean market. Following these developments can be important for making strategic decisions in the cryptocurrency market.
To stay up to date with the latest news, follow us on Chirping, FacebookAND User profile. Join our Telegram AND Youtube channel