Funds Exploded! Upbit Market Revived

Money has definitely returned... even as trading volume exceeded 14 trillion won, the 'selective market' became even stronger.

▲ Upbit, Bitcoin, XRP ©

According to the Upbit Datalab weekly report (April 20-26) provided by Dunamu, the Upbit Composite Index continued its upward trend, rising by 4.68% from the previous week to 11,817.13 points. During the same period, trading volume surged by 17.85% to 14.75 trillion won, making the recovery of liquidity even more apparent. This rise, accompanied by actual capital inflow rather than just a simple price rebound, indicates a clear improvement in market strength.

Investor sentiment remains cautious. The Fear & Greed Index rose to 56 from the previous week but still remained in the 'Neutral' zone. While funds are flowing in, a cautious approach is being maintained rather than aggressive buying based on conviction. This is interpreted as a typical 'exploration phase' often observed at the beginning of a bull market.

Supply and demand are being restructured even more rapidly. Among the top weekly trading volume assets, USDai (CHIP) took the lead with 1.79 trillion won, standing at the center of the market, followed by Bitcoin (BTC) with 1.1 trillion won, and Pieverse (PIEVERSE) with 0.89 trillion won. A notable feature is the expanded market participation as funds are diversifying not only into existing large-cap coins but also into specific themes and newly introduced assets.

The individual asset market has become even stronger. Among the top weekly gainers, Zerobase (ZBT) led the market with an 87.79% surge, followed by Orca (ORCA) with 52.29%, and Avantis (AVNT) with 35.53%. With both trading volume and growth rates concentrated in specific assets, the 'selective surge structure' has become even more pronounced.

The trend of top market cap assets maintained a stable upward movement. Large-cap assets showed a solid trend with Bitcoin rising 6.03%, Ethereum (ETH) 4.18%, and XRP (Ripple) 2.17%. In contrast, stablecoins recorded slight declines, with Tether (USDT) at -0.34% and USD Coin (USDC) at -0.54%, indicating a gradual resurgence of risk asset preference.

Sector-specific fund rotation also became clear. Fan tokens showed the strongest momentum, rising by 19.94%, followed by NFT & Gaming at 13.24%, Wallet & Messaging at 8.36%, Stablecoin-related assets at 8.25%, and Advertising at 6.67%. Conversely, some sectors such as Interoperability & Bridge saw sluggish performance at -0.99%, indicating rapid fund movement.

Ultimately, this week's Upbit market is evaluated as a period where two characteristics – 'expanded liquidity + selective concentration' – were simultaneously strengthened. While the surge in trading volume and index rise are clear bullish signals, the magnitude and direction of the rise continue to vary significantly depending on the specific asset and sector. Analysis suggests that while the market has returned, it has entered a phase where not everyone can reap profits.

▲ [Dunamu] Upbit Datalab Weekly Report 0420-0426

Meanwhile, Upbit Datalab is a specialized data service provided by Dunamu, which operates the digital asset exchange Upbit. It provides 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 the base point (1000), and the Fear & Greed Index is derived by aggregating 24-hour transaction prices and trading volume data within Upbit every 5 minutes.

*Disclaimer: This article is for investment reference purposes, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*