XRP shows remarkable dominance in South Korea, leading on major exchanges even during market fluctuations.
XRP Trading Volume on South Korean Exchanges
XRP is actively traded on the largest South Korean exchange, Upbit, where its daily volume frequently surpasses that of Bitcoin. For instance, in December 2024, South Korean exchanges recorded over $1 billion in XRP trading volume within a single day.
Market Cap Concentration of XRP
Estimates suggest that 15% to 20% of XRP's global liquidity may be held by South Korean investors. This underscores the high level of trading activity despite the relatively small population of the country.
Reasons for XRP's Popularity Among South Korean Traders
XRP captures the interest of South Korean traders due to its low transaction fees and fast settlement processes. Factors such as regulatory clarity and the 'Kimchi premium' also contribute, where cryptocurrency prices in Korea often exceed global averages.
Thus, the claim that 'all Koreans who own crypto most likely hold XRP' largely reflects reality, given the significant concentration of trading and ownership of tokens in South Korea.
