Money Has Returned…Upbit's 12 Trillion Won Trading Volume Explodes, a Real Bull Market Signal?

▲ Upbit Coin/AI-generated image ©

Although trading volume surpassed 12 trillion won and funds began to return, 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 recorded 11,289.05 points, a 3.27% increase compared to the previous week. During the same period, trading volume surged by 25.85% to 12.51 trillion won, showing clear signs of liquidity recovery. The market's health is evaluated to have improved, as this goes beyond a simple price rebound and is accompanied by actual capital inflow.

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. While funds are flowing in, a lack of conviction regarding market direction means exploratory trading continues rather than aggressive buying.

Supply and demand have once again reorganized around large-cap assets. Based on weekly trading volume, Bitcoin ranked first with 1.31 trillion won, closely followed by XRP with 1.29 trillion won. Ethereum maintained third place with 1.17 trillion won. Analysis suggests a clear 'large-cap-led defensive market' has emerged, as market funds are concentrated in major coins rather than altcoins in general.

Individual asset performance also continued. Among the top weekly gainers, Bioprotocol surged by 60.54%, showing the strongest upward trend, followed by Blur with 48.79% and Centrifuge with 40.57%. Conversely, the trend for top market cap 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 USDCoin (-0.20%) remained slightly weak.

By sector, capital rotation became even more pronounced. Fan Tokens showed the strongest performance, rising by 11.09%, followed by Staking & Restaking (8.78%), NFT & Gaming (7.61%), Stablecoin-related assets (5.03%), and Metaverse (4.25%). In contrast, previously popular themes like Interoperability & Bridge (-11.15%), DID (-7.12%), and AI (-4.3%) saw sharp declines, indicating a full-scale 'theme change'.

Ultimately, the current Upbit market has seen funds return, but its direction remains divided. While increased trading volume and rising indices are positive signals, the continued concentration of supply and demand in specific sectors and large-cap assets means the market is still 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 classification. This composite index is calculated with October 1, 2017, as its base point (1000), and the Fear & Greed Index is derived every 5 minutes by synthesizing 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.*