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Bitcoin Reclaims Top Spot as Trading Volume Nears 10 Trillion Won… Upbit Market Shows Gradual Recovery
▲ Upbit, Bitcoin, Ethereum, XRP, Solana/AI-generated image ©
The Upbit market showed a gradual recovery with both trading volume and the composite index rising. While the leading cryptocurrency, Bitcoin (BTC), reclaimed the top spot in weekly trading volume, the artificial intelligence (AI) sector, which had heated up the market for a while, sharply declined, leading to an intense selection process among themes.
According to the Upbit Data Lab weekly report (April 6-12) provided by Dunamu on the 13th, the Upbit Composite Index for the week recorded 10,932.03 points, up 0.77% from the previous week. During the same period, trading volume increased by 7.15% from the previous week, totaling 9.94 trillion won, closely approaching the 10 trillion won mark. This indicates a positive supply and demand flow, supported by trading volume, moving away from the unstable market conditions of the previous week where prices rose without capital inflow.
Despite the recovery in trading volume, overall investor sentiment in the market remains cautious. The Fear & Greed Index remained unchanged at 48 from the previous week, still in the 'Neutral' stage. As there is no clear buying dominance or optimistic bias indicated by the metrics, it is interpreted that market participants are continuing a conservative exploratory phase rather than aggressive investment.
Market funds once again gravitated towards large-cap assets. Among the top 3 assets by weekly trading volume, Bitcoin recorded 1.04 trillion won, reclaiming the No. 1 position it had ceded to XRP (Ripple) last week. XRP fell to second place with 0.98 trillion won, and Ethereum (ETH) ranked third with 0.89 trillion won.
In terms of weekly increase rates, the strong performance of specific altcoins was noticeable. Redstone (RED) surged by 35.9% in one week, taking the top spot, followed by Zero-G (OG) with a 23.13% increase and Just (JST) with 22.92%. In contrast, the performance of the top 5 assets by market capitalization varied sharply. Bitcoin (+1.35%) and Ethereum (+2.79%) showed joint strength, while Tether (USDT), XRP, and USD Coin (USDC) declined by -1.06%, -1.15%, and -1.19% respectively, showing weakness.
Sector-wise, significant capital movement and theme rotation were observed. The Decentralized Identity (DID) sector achieved the most overwhelming performance, rising by 9.67%, with Education/Other Content (3.57%), Modular Blockchain (2.64%), Stablecoin-related Assets (1.53%), and Payment Infrastructure (1.14%) also joining the strong trend. Conversely, the AI theme, which had led the recent market rally, recorded the largest drop at -10.44% and slumped. Lending (-8.47%), Fan Token (-8.01%), Data Infrastructure (-6.64%), and Enterprise Blockchain (-4.47%) also experienced successive declines. Notably, the Data Infrastructure sector, which recorded the highest increase rate last week, sharply reversed to a decline in just one week, demonstrating the market's rapid rotational trading.
▲ [Dunamu] Upbit Data Lab Weekly Report 0406-0412
Meanwhile, Upbit Data Lab 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 based on October 1, 2017, as the benchmark (1000), and the Fear & Greed Index is derived every 5 minutes by aggregating 24-hour transaction prices and trading 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.*
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