Trading Volume on South Korean Crypto Exchange Upbit Crashes 75%
Upbit’s 24-hour crypto trading volume stood at $3.79 billion at press time, down 75% from the high of $15 billion on March 5, CoinGecko veri show.
Upbit’s 24-hour crypto trading volume stood at $3.79 billion at press time, down 75% from the high of $15 billion on March 5, CoinGecko veri show.
Bitcoin has led the crypto advance this year, but altcoins could start outperforming soon, analysts said.
The funding rate spread has collapsed, indicating increased appetite by traders to speculate further out on the risk curve.
The rise of bitcoin and ethereum, and more favorable macro conditions, could be good news for altcoins this year, says Todd Groth, head of research at CoinDesk Indices.
Capital rotation from bitcoin to altcoins accelerated further but steady inflows into BTC funds compensated, one analyst noted.
A few days of outperformance has ignited chatter about “altcoin season.”