Upbit’s 24-Hour Trading Volume Soars to $17B, Highlighting BTC/KRW and Altcoin Momentum in Korean Crypto Market
Upbit, South Korea’s largest cryptocurrency exchange, has reached a 24-hour trading volume of $17.06 billion according to CoinGecko. The BTC/KRW pair led with 11.39% of the total volume, underscoring Bitcoin’s continued dominance in the Korean crypto market. Notably, high trading activity was also seen in altcoins such as XRP, ANIME, ETH, and RVN, indicating robust investor appetite for both leading and emerging digital assets. The sustained volume in XRP and standout moves by newer coins like Animecoin and Ravencoin point to a shift in trader interest toward alternative cryptocurrencies. Upbit’s position as a liquidity hub is further cemented, making it a prime platform for traders seeking large-volume opportunities. For crypto traders, this surge in trading activity signals potential short-term opportunities and may contribute to increased market momentum on Korean exchanges.
Bullish
The sharp increase in trading volume on Upbit, particularly in the BTC/KRW pair and various altcoins like XRP, ANIME, and RVN, reflects heightened liquidity and robust investor participation in the Korean cryptocurrency market. Historically, such surges in volume indicate market confidence, fuel short-term price momentum, and attract both institutional and retail traders seeking volatility and liquidity. The broad participation across both established and emerging coins indicates expanding market engagement, which is typically bullish for price action as it promotes upward movements and supports the stability of the trading environment. In the short term, this environment often presents profitable opportunities for active traders, while in the long run, it reinforces Upbit’s status as a regional liquidity hub, potentially sustaining higher trading volumes and supporting further growth in the Korean crypto sector.