Yahya 
With recent notable increases in trading volumes for many cryptocurrencies, Upbit, the biggest bitcoin exchange in South Korea, has pointed unique market characteristics.
Among them, Tezos (XTZ) pops out with its hourly transaction volume jumping by 262.51% to $26,000, much beyond its regular $7,000 average. This increase is very unlike Binance, where Tezos saw a little 6.45% reduction in trading volume, thus stressing a clear contrast in trader behavior between the two exchanges.
Trading volume for another cryptocurrency, STP (STPT), on Upbit jumping 162.25% from $249,000 to $654,000 also showed a notable rise. Surprisingly, this increase corresponds with Binance’s 24.42% decline in STP’s trading activity, indicating a change in trade focus toward Upbit.
From $3 million to $9 million, Hedera (HBAR) also saw a roughly 300% gain over four hours, and trading volume on Upbit also increased fairly dramatically. Over the same time, Binance saw a lower but still notable 40.95% rise in HBAR transaction volume.
From a $8,000 average to $23,000, Ethereum Name Service (ENS) saw over quadruple trading volume on Upbit, a 193.9% increase. With a 33.56% volume rise, ENS also became very popular on Binance. Recent Ethereum co-founder Vitalik Buterin’s platform transactions could have bearing on the increase in ENS activity.
At last, Kava (KAVA) saw an astonishing 256.18% growth in hourly trading volume on Upbit as it surged from $52,000 average to $186,000. On Binance, kava trade only showed a meager 5.73% gain instead.
Unlike the more subdued numbers of Binance, these notable trading volume gains on Upbit signal to different market trends and preferences among South Korean traders, so Upbit is an important exchange to keep an eye on in the changing altcoin scene.
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