As the Korean altcoin craze eases, Upbit cryptocurrency trading volume plummets by 75%.

“Cryptocurrency trading volume began to surge in early March as a wave of altcoin activity hit the market,” Matrixport said in a Telegram broadcast. “Expectations of a Dencun upgrade with lower trading fees have fueled this frenzy and some political developments have pushed the cryptocurrency to the forefront of political elections. However, declining trading volumes call into question the sustainability of the altcoin rally.”