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Unusual transaction volume surge for 5 altcoins on Korean exchanges

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Data from Upbit, the biggest cryptocurrency exchange in South Korea, indicates a notable increase in trading activity for these 5 altcoins on the stock market.

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Upbit, a well-known cryptocurrency exchange based in South Korea, has experienced a significant surge in trading volume for multiple altcoins. This development has attracted the interest of traders and industry observers.

Based on data from CoinMarketCap, the following altcoins have witnessed remarkable increases in trading volume compared to their usual levels on both Upbit and another major exchange, Binance:

  1. Bitcoin Cash (BCH): Bitcoin Cash, a digital currency that aims to facilitate faster and cheaper transactions, saw a significant 380.46% increase in trading volume on Upbit within one hour. However, its price experienced a slight decrease of 0.62% to $113.0. On Binance, the trading volume only rose by 12.99% to reach 2,000 units.
  2. Augur (REP): Augur, a decentralized prediction market platform, observed a notable 81.81% increase in trading volume on Upbit over a four-hour period, reaching 1 million. The price of REP saw a modest rise of 0.85% to $4.73. Conversely, Binance experienced a significant 78.45% drop in trading volume, highlighting a significant difference between the two exchanges.
  3. Elrond (EGLD): Elrond, a blockchain platform designed for fast and secure decentralized applications, exhibited an extraordinary 249.60% growth in trading volume on Upbit within one hour, rising from an average of 3,000 to 11,000. Surprisingly, the price remained relatively stable at $38.18. Binance reported a more moderate 6.83% increase in volume, suggesting comparatively lower activity.
  4. Stratis (STRAX): Stratis, a platform that enables businesses and developers to build custom blockchain applications, witnessed a substantial 498.80% surge in trading volume on Upbit over a four-hour period, reaching 5 million units. Concurrently, its price increased by 0.84% to $0.48. On Binance, the trading volume rose by only 19.72% to 185k units.
  5. Bitcoin Gold (BTG): Bitcoin Gold, a Bitcoin derivative that focuses on mining with graphics cards, experienced a remarkable 664.00% increase in trading volume on Upbit within one hour, reaching 50,000 units. However, its price declined by 0.84% to $17.65. On Binance, the trading volume decreased by 28.60% to 19,000 units.

(Note: This information is provided for general understanding and is not investment advice.)

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