South Korea’s cryptocurrency market has experienced explosive activity in the past 24 hours.
According to transaction data from Upbit and Bithumb, Japan’s two largest exchanges, the trading volume of many altcoins has increased significantly. Korean investors’ interest is particularly strong in highly liquid assets such as XRP, Bitcoin, and Ethereum.
Adding up the 24-hour trading volume of Upbit and Bithumb, the most prominent altcoins are listed as follows:
- XRP — $448 million
- Bitcoin — $354 million
- Tether (USDT) — $261 million
- Ethereum (ETH) — $178 million
- 0G — $124 million
- Intuition (TRUST) — $115 million
- Credit Coin (CTC) — $102 million
- Solana (SOL) — $100 million
- Toshi (TOSHI) — $60 million
- Momentum (MMT) — $53 million
- Dogecoin (DOGE) — $52 million
Upbit is once again at the center of South Korea’s trading volume boom. This exchange alone generated $336 million in XRP and $268 million in Bitcoin trading volume. On the Bithumb side, Tether led the way with a trading volume of $136 million, suggesting increased demand for the stablecoin due to arbitrage and KRW migration.
The data also suggests that local investors are not just focusing on major coins. Upbit saw a notable increase in trading volume for more niche projects such as 0G ($110 million), Intuition ($97 million), and Creditcoin ($80 million).
*This is not investment advice.
