Memes are over, real-world utility themes are rising... Upbit fund movement has begun

▲ [Photo material] Upbit Logo ©

Altcoins have reignited. The Upbit market continued its liquidity recovery trend over the past week, with both trading volume and index rising simultaneously, creating an extreme rotational market where funds surged into specific sectors and small to medium-sized coins.

According to the Upbit Datalab Weekly Report (May 4-10) on May 11, the Upbit Composite Index rose by 3.13% from the previous week to 12,130.45 points. Trading volume also increased by 17.7% to 13.26 trillion KRW, indicating a rapid recovery of liquidity that had sharply decreased the previous week. The Fear & Greed Index rose by 2 points from the previous week to 56, but still remained in the 'Neutral' zone. This means that while the overall market sentiment improved, investor sentiment has not yet entered the overheating stage.

This week, the market's focus shifted back to large-cap coins. Among the top weekly trading volume assets, Bitcoin (BTC) ranked first with 1.29 trillion KRW, followed by XRP (Ripple) with 0.96 trillion KRW. Third place was taken by PROS, which attracted 0.83 trillion KRW. Unlike the previous week, where surging altcoins like ORCA and BIO dominated supply and demand, this week saw a mixed market where leading assets and thematic altcoins simultaneously attracted trading.

In terms of growth rate, the explosive power of small and medium-sized altcoins was overwhelming. SAHARA surged by an astonishing 59.24%, topping the market's growth rate, followed by Centrifuge (CFG) with 47.71% and Solayer (LAYER) with 47.58%. Particularly in sector-specific trends, Aggregators soared by 28.48%, recording the strongest capital inflow, followed by Liquid Staking & Restaking with 19.14%, DID with 17.94%, DEX with 16.82%, and RWA with 16.30%. There is a clear trend of market funds rapidly moving from simple meme themes to areas with real-world utility and expectations for structural growth.

The flow of top market cap assets also remained strong. Bitcoin rose by 3.30% weekly, Ethereum (ETH) by 0.87%, and XRP by 4.81%, indicating that large-cap assets supported the market's upward trend. Conversely, Tether (USDT) and USD Coin (USDC) fell by -1.08% and -1.35% respectively, confirming a shift in stablecoin allocation towards risk assets. On the other hand, modular blockchain, payment infrastructure, healthcare, and meme sectors showed relatively sluggish performance, suggesting an accelerated pace of capital rotation.

Ultimately, this week's Upbit market can be summarized as 're-expansion of liquidity + selective strength in altcoins with substance'. While the market's vitality is recovering with simultaneous increases in trading volume and index, returns are extremely concentrated in specific sectors and assets. Analysis suggests that the Upbit market is now moving beyond a simple rebound phase and entering a sophisticated rotational market where discerning which themes and assets funds are flowing into is crucial.

▲ [Dunamu] Upbit Datalab Weekly Report 0504-0510

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. 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 aggregating 24-hour executed price 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.*