Surge in Trading Volumes at South Korean Crypto Exchanges

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 day ago

SAND-1.563%

BICO-29.318%

AXS-1.399%

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Leading RE Volume: Over the past 24 hours, RE recorded a trading volume exceeding $117 million on Upbit, making it the most traded altcoin in the South Korean market, indicating strong investor interest that could drive future price increases.
Bithumb's Strong Performance: Biconomy achieved a trading volume of approximately $49 million on Bithumb, becoming the top altcoin on the exchange, reflecting market recognition of its potential applications and possibly attracting more investor attention.
Overall Market Activity: The combined trading volume on Upbit and Bithumb shows that RE reached about $140 million, indicating a surge in enthusiasm for altcoins in the South Korean market, which may prompt more exchanges to compete for user engagement.
Diverse Altcoin Trading: In addition to RE, other altcoins like Worldcoin and Axie Infinity also saw significant trading volumes of $65 million and $53 million respectively, highlighting the market's demand for diversified investments that could influence future market trends.

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Technical Analysis for SAND

Technical Sentiment Analysis for The Sandbox (SAND). As of , The Sandbox (SAND) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SAND stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, SAND is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

The Sandbox (SAND) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0332	0.0416	0.0478	0.0561	0.0623	0.0706	0.0768
Fibonacci	0.0416	0.0471	0.0505	0.0561	0.0616	0.0651	0.0706

About SAND

Launched in 2011 by Pixowl, The Sandbox is a blockchain-based virtual world allowing users to create, build, buy and sell digital assets in the form of a game. By combining the powers of decentralized autonomous organizations (DAO) and non-fungible tokens (NFTs), the Sandbox creates a decentralized platform for a thriving gaming community.According to the official whitepaper, the Sandbox platform’s main mission is to introduce blockchain technology in mainstream gaming successfully. The platform focuses on facilitating a creative “play-to-earn” model, which allows users to be both creators and gamers simultaneously. The Sandbox employs the powers of blockchain technology by introducing the SAND utility token, which facilitates transactions on the platform.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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