Money has returned...Upbit's 12 trillion KRW transaction volume explodes, a real bull market signal?

▲ Upbit Coins / AI Generated Image ©

While funds have started to return with transaction volume exceeding 12 trillion KRW, the Upbit market remains in a phase of 'selective growth.'

According to the Upbit Datalab Weekly Report (April 13-19) provided by Dunamu, the Upbit Composite Index rose by 3.27% from the previous week, reaching 11,289.05 points. During the same period, transaction volume surged by 25.85% to 12.51 trillion KRW, showing clear signs of liquidity recovery. The market's strength is assessed to have improved, as it was accompanied by actual capital inflow beyond a simple price rebound.

However, investor sentiment remains cautious. The Fear & Greed Index rose by 2 points from the previous week to 51 but remained in the 'Neutral' zone. Although funds are flowing in, a lack of conviction regarding market direction suggests a trend of exploratory trading rather than aggressive buying.

Supply and demand have once again reorganized around large-cap assets. Bitcoin ranked first with 1.31 trillion KRW in weekly transaction volume, closely followed by XRP with 1.29 trillion KRW. Ethereum maintained third place with 1.17 trillion KRW. Analysis indicates a clear 'large-cap focused defensive market' as market funds concentrated on major coins rather than altcoins across the board.

Individual asset performance also varied. Among the top weekly gainers, Bioprotocol surged by 60.54%, showing the strongest increase, followed by Blur at 48.79% and Centrifuge at 40.57%. In contrast, the performance of top market capitalization assets was mixed. Bitcoin rose by 4.09%, Ethereum by 2.99%, and XRP by 4.90%, showing strength, while stablecoins like Tether (-0.33%) and USDC (-0.20%) remained in a slight bearish or flat trend.

By sector, capital rotation became more evident. Fan Tokens showed the strongest performance, rising by 11.09%, followed by Staking & Restaking at 8.78%, NFT & Gaming at 7.61%, Stablecoin-related assets at 5.03%, and Metaverse at 4.25%. Conversely, previously popular themes such as Interoperability & Bridge (-11.15%), DID (-7.12%), and AI (-4.3%) saw sharp declines, indicating that a 'theme change' is actively underway.

Ultimately, the current Upbit market sees funds returning, but with divided direction. While expanding transaction volume and rising indices are positive signals, the continued concentration of supply and demand in specific sectors and large-cap assets means the market remains in a phase of selection and focus.

▲ [Dunamu] Upbit Datalab Weekly Report 0413-0419

Meanwhile, Upbit Datalab is a specialized data service provided by Dunamu, which operates the digital asset exchange Upbit. It offers standard indicators for fundamental analysis of the virtual asset market, including the Upbit Composite Index (UBCI), market trends, and sector classifications. The Composite Index is calculated with October 1, 2017, as the base point (1000), and the Fear & Greed Index is derived every 5 minutes by synthesizing 24-hour transaction prices and volume data within Upbit.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*