Tezos Jumps 6.3% Driven by Rising Trading Volumes in Korea

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In the midst of a stagnant crypto market, Tezos quotes rose by 6.3% in just one day. The token is currently trading at around $0.69, with the rate reaching as high as $0.74.

The price surge was accompanied by a significant increase in trading volumes, exceeding $132 million in the past 24 hours.

This is a significant spike compared to the average values seen in the previous 30 days.

The majority of the trading activity was concentrated on South Korean exchange Upbit, where the daily trading volume of XTZ against the Korean won reached $42.5 million, accounting for about 32% of the total.

In second, third, and fourth place in terms of trading volume were Binance, BiONE, and XT.com, which primarily cater to Asian users.

According to CoinGlass, the sudden rise in XTZ price resulted in the liquidation of more than $650,000 in derivative positions based on the asset.