"Hopefully the investors have made an early profit, because now the price has gone back down."
Tezos (XTZ) yesterday managed to climb 7.5% in a short time when the trading volume on the South Korean cryptocurrency exchange Upbit saw a rise plus there were massive liquidations.
It was reported that the 24-hour trading volume for XTZ reached $112.8 million, which is significantly higher than its 30-day volume of about $16.8 million.
Compared to other crypto exchanges, Upbit recorded the highest trading volume in the last 24 hours amounting to $39.7 million followed by Binance, BiONE and XT.com which is focused on Asian markets such as South Korea.
It is well known that the rise in the price of XTZ has caused liquidations of almost half a million dollars which is a three month high for the token.
Similar trading conditions were observed for the price of Bitcoin Cash (BCH), Aptos (APT), 1inch (1INCH) and Immutable (IMX) which previously acted negatively after surging on South Korean volume.
XTZ is a blockchain network using various proof-of-stake consensus mechanisms that means validators in the network play an important role for governance or updates to the protocol.
Shortly after surging up to $0.74, XTZ price seems to have dipped back below the $0.67 level with a market cap of $639 million but still recorded a 0.48% gain over the last week.
