The surge in trading volume for some altcoins in cryptocurrency powerhouse South Korea is drawing attention. Here are the details.
The South Korean cryptocurrency market has experienced an explosion of activity in the last 24 hours.
According to trading data from Upbit and Bithumb, the country’s two largest exchanges, many altcoins have seen notable jumps in volume. Korean investor interest is particularly strong in highly liquid assets like XRP, Bitcoin, and Ethereum.
When Upbit and Bithumb’s 24-hour trading volumes were combined, the most prominent altcoins were listed as follows:
Upbit is once again at the center of the volume boom in South Korea. The exchange alone reached $336 million in XRP and $268 million in Bitcoin trading volume. On the Bithumb side, Tether led the way with $136 million in volume, suggesting increased demand for stablecoins due to arbitrage and KRW migrations.
The data also suggests that local investors aren’t solely focused on major coins. On Upbit, volume growth in more niche projects like 0G ($110 million), Intuition ($97 million), and Creditcoin ($80 million) was notable.
