Monitor the Korean market to help you find the next pump

Leo

2023-04-18 13:23

Read this article in 7 Minutes

"Follow the Korean market to boost token revenue"

Original author:Miles Deutscher

Leo, BlockBeats

crypto trading takes advantage of market data and tools, such as ARB and APT, which statistically follow the trend of the Korean Crypto market. Encryption researcher Miles Deutscher wrote about "How to use the Korean Market for crypto trading." BlockBeats compiles as follows:

The crypto market in South Korea is growing rapidly

The biggest pumps in this year come from South Korea, such as APT and ARB. After observation, I have found a way to help you find the next pump as early as possible. The following is the guide:

The Korean crypto market has been in a period of explosive growth, driven by local support for Web 3, a strong economy, and a focus on innovation and technology. As a result, South Korea ended up being one of the world's encryption hubs and the top four country by transaction volume.

The most popular cryptocurrency trading platform in South Korea is Upbit, which is by far the largest cryptocurrency trading platform in South Korea, accounting for 76.6% of the total cryptocurrency market share in South Korea.

A tool to monitor market trends

Due to its dominant position, monitoring Upbit trading has become one of the main ways to track trends in the Korean crypto market. Here are 3 tools to help you catch the Crypto pump in Korea:

Crypto Exchange Listing Bot

By using the Crypto Exchange Listing Bot to monitor newly launched tokens, the website can immediately send relevant information to users when new tokens are launched (via Email, Tel, Dc, etc.). Can help you quickly find the next listing pump.

CoinMarketCap

You're all familiar with CoinMarketCap. Use CoinMarketCapMonitor won-related trading pairsIn part, the interface displays token rankings and other metrics based on transaction volume, which is necessary for you to track popular tokens.

Unusual Upbit Volume Bot

The Unusual Upbit Volume Bot, which allows users to automatically identify unusual volume spikes using a transaction data Bot that can be used as a research judgment for cryptocurrency transactions, pairs Upbit data with corresponding Binance data.

On April 13, the bot detected a 102.9% increase in Upbit ARB transactions. ARB was up 40 percent later in the day.

For me, if there is a spike in trading volume, I do not immediately open multiple orders. I usually use the increase in trading volume as a signal to further trade the token, determine the driving factors behind the price behavior, and then trade.

A token transaction evaluation mechanism

When deciding to trade a token, I will consider four aspects:

- Are there synergies between the token and the Korean community?

- Has the increase in token trading continued for a period of time?

- Are there other factors affecting the token price behavior?

- Does the token-related chart data look good? (This is important)

Look for tokens with high FDV, the increase in trading volume under low circulation will have a big impact on token price, such as APT and ARB, which is why they become pump (especially APT).

conclusion

With the rapid growth of the Korean market, it makes sense to focus on transaction-based metrics and development data. Of course, I'm also keeping a close eye on other Asian markets, such as Hong Kong and Japan. Given the uncertain regulatory environment in the US and the growing acceptance of cryptocurrencies in Asia, we are witnessing a "west to east" shift in crypto.