As of 3 PM on May 17th, the domestic cryptocurrency market showed a mixed flow of rises and falls. Without a clear direction in the overall market, some assets attracted buying interest, revealing temperature differences.
According to Bonanza Lab data, Tether (USDT) ranked top in net buying on both Upbit and Bithumb exchanges. Particularly on Bithumb, the inflow of funds into Tether was the largest, and it also ranked high on Upbit. Bitcoin (BTC) also showed strong net buying on Upbit and Coinone exchanges, confirming continued demand from institutional and individual investors. SUI also drew attention as a top net buying asset on Upbit.
Among assets recording sharp increases, CTXC showed a prominent upward trend on Bithumb. Investment demand suddenly concentrated, expanding volatility, and PUNDIAI also staged a strong rebound on Bithumb. Additionally, while the increase was relatively small, an overall strong trend was detected in some assets based on their thematic expectations.
In contrast, the top declining assets data did not include cryptocurrencies on Bithumb. Most declining assets were concentrated on Cobiz exchange, which is excluded from the analysis based on the current request criteria.
In terms of trading volume on Upbit, XRP showed the highest liquidity, followed by NXPC, Ethereum (ETH), Status (SNT), and Bitcoin (BTC). Particularly, XRP significantly influenced the entire market with a clear increase in trading volume due to short-term issues. A flow of supply being partially distributed to mid-cap altcoins rather than large-cap assets was also observed simultaneously.
While the market overall did not establish a clear direction, fund concentration into some stablecoins and major cryptocurrencies was confirmed. Rather than chasing assets with high price fluctuations, maintaining a stable strategy centered on trading volume and net buying flow is required.
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