Unusual transaction volumes were noticed in multiple altcoins on Upbit, the biggest cryptocurrency exchange in South Korea, following the conclusion of the Bitcoin halving. Cardano (ADA), Loom Network (LOOM), 1inch (1INCH), Ankr (ANKR), and NEM (XEM) are among the cryptocurrencies in question.
Cardano (ADA)’s 4-hour chart revealed a sharp rise in Upbit trading volume. The volume reported in the last 48 hours was around $14 million, a 96.96% increase from the average of $7 million in the previous 48 hours. The volume on Binance dropped from an average of $46 million to $42 million, or an 8.50% decline.
Also, there was a notable surge in trading activity for Loom Network (LOOM) on Upbit’s 1-hour chart. $50 million in average 1-hour volume increased to $10 million, a 215.10% increase. The $2 million volume on Binance didn’t change.
On the 4-hour chart on Upbit, 1inch (1INCH) had a huge 407.13% surge in trading volume, with volume going from an average of about $1.5 million to as high as $7 million. The volume on Binance went from $3 million to $4 million, a 48.36% increase.
The 1-hour trading volume on Upbit for Ankr (ANKR) increased by 186.96%, from an average of $6 million to $17 million. On the other hand, volume dropped by 10.08% on Binance, from $9 million to $8 million.
Lastly, Upbit witnessed a notable rise in the 1-hour trading volume for NEM (XEM). The volume went from an average of $2 million to $13 million, a 454.21% increase. The volume dropped by 15.37% to $1 million on Binance.
April 2024, Cryptoniteuae
