South Korea’s leading cryptocurrency exchange Upbit has sparked excitement in the crypto industry with a significant increase in trading volumes for various altcoins, eclipsing even Binance, a global giant in altcoin trading. Here are the details…
These altcoin projects drew attention in South Korea
The trading data paints a vivid picture of the different trajectories between the two exchanges. Upbit is emerging as a platform with a clear edge in terms of trading activity in various altcoins. EOS is one of the prominent players in this remarkable rise. EOS, the native token of the EOS Blockchain, has emerged as a pioneer in Upbit’s trading arena. Notably, the 4-hour trading volume showed a staggering 55.36% increase. In this way, it achieved a significant trading activity of $2 million. In contrast, EOS’ trading volume on Binance shrank by a significant 39.26%, amounting to $1 million for the same period.
The second of the most traded altcoin projects was ImmutableX. Immutable X, a promising layer-2 scaling solution focused on enhancing the NFT ecosystem, performed spectacularly at Upbit. The 1-hour trading volume increased by an astonishing 227.80% to an impressive $97K. Similarly, Binance witnessed a commendable 29.21% increase in 1-hour volume of IMX, reaching $125,000.
There are also ENJ, ADA and ALGO
Third, Enjin, the driving force behind Enjin Coin (ENJ), also attracted attention. It recorded a staggering 198.04% increase in 1-hour trading volume on Upbit, reaching a significant amount of $333,000. On the other hand, Cardano’s native token ADA has shown remarkable resilience and growth on Upbit. ADA posted an impressive 61.67% increase in 4-hour trading volume. Thus, it reached 4 million dollars. Another key player in this surge, Algorand (ALGO), showed its vitality with a stunning 213.90% increase in 3-hour trading volume on Upbit.
As we reported on Kriptokoin.com, these unprecedented increases in trading volumes on Upbit have placed the exchange on a trajectory that surpasses Binance, making it the world’s second largest cryptocurrency exchange in terms of trading volume. This remarkable achievement underscores the growing influence and appeal of South Korea’s cryptocurrency ecosystem on the global stage. Altcoin moves in South Korea will continue to draw attention in the coming period.
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