[Coin Scan] Funds flowing into Tether… Domestic coin market, analysis of stocks with net purchases and fluctuation rates
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As of 0:30 AM on April 17th, the domestic cryptocurrency market showed a mixed trend with concentrated buying in specific tokens. Notable rises and falls were observed across different exchanges, with a prominent demand for cash-like assets such as Tether.
On Upbit and Bithumb, the stablecoin Tether (USDT) appeared as a top net buying token. Particularly on Upbit, USDT attracted the most buying volume, reflecting investors' preference for stable assets. Subsequently, the Trump-based Token (TRUMP) and TRON also gained attention by ranking in the top net buying positions on Upbit and Bithumb respectively.
Among top gainers, Stratis (STRAX) showed notable strength. STRAX was listed on both Upbit and Bithumb, recording double-digit percentage increases. Besides STRAX, tokens like Sparta (SPA), Frax Governance (FXS), and WEN on Coinone also drew investor interest with significant price jumps.
Conversely, Aergo (AERGO) stood out with the most prominent decline. On both Upbit and Bithumb, AERGO was among the sharply falling tokens, raising concerns about increased volatility. Aqua Token (AQT) also experienced a steep drop on both exchanges. The decline was interpreted as short-term thematic funds exiting certain tokens.
Examining top trading volumes, Aergo (AERGO), Ardor (ARDR), XRP, Wave Coin Token (WCT), and Stratis (STRAX) were prominent. Despite its sharp decline, AERGO recorded the highest trading volume, indicating active trading potentially driven by bottom-fishing and speculative transactions.
According to Bonanza Lab data, the overall market trend shows investment sentiment concentrated on specific tokens, with simultaneous appearances of rapidly rising and falling coins. Buying interest mostly flows to stablecoins and thematic strong performers, while some peak tokens quickly adjust. The current market requires diversified investment approaches and risk management, given the divided buying sentiment between stable assets and explosive thematic tokens.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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