![South Korean Traders Behind Recent Altcoin Rally, CryptoQuant Says South Korean Traders Behind Recent Altcoin Rally, CryptoQuant Says](https://digitallifegaming.com/wp-content/uploads/2023/11/2RAZEXQUNVA4DJZZ7O74CRWJMU-768x402.jpg)
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Spot volumes on local exchange Upbit have nearly doubled since September, analysts at on-chain data firm CryptoQuant shared in a Friday note to CoinDesk. Upbit, which constitutes over 85% of the Korean trading volume, experienced an 82% growth in October compared to September, with trading volume rising from $32.8 billion to $59.8 billion.
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