The South Korean cryptocurrency exchange Upbit has recently gained prominence due to its substantial trading volume over the last 24 hours. According to data from the platform CoinGecko, Upbit's total trading volume surged to an impressive $20.84 billion.
XRP/KRW Trading Pair Rises to the Top
Ripple's XRP continues to be one of the most popular cryptocurrencies in South Korea. In the past 24 hours, the XRP/KRW trading pair achieved the highest trading volume on Upbit, indicating sustained interest in XRP within the country. Intense interest from individual investors in South Korea plays a crucial role in boosting XRP’s popularity.
Strong Interest in AUCTION, LOOM, and UXLINK Altcoins
Following XRP, AUCTION and LOOM altcoins are attracting attention due to their impressive trading volumes. AUCTION, developed by Bounce Finance, is used in auction platforms and has gained popularity among crypto investors for speculative trading. LOOM coin from Loom Network also stands out on Upbit. UXLINK achieved the fifth highest trading volume.
Growing Interest in XRP in South Korea
The expansive use cases in the Asian market significantly contribute to XRP’s high trading volume. The development of the Ripple ecosystem continues to engage South Korean investors, and the high liquidity provided by the South Korean won also plays a role in enhancing XRP’s trading volume on Upbit.
The high trading volume and popularity of XRP and other altcoins on Upbit underscore the growing interest in cryptocurrencies in South Korea. Such large trading volumes affirm the importance and resilience of the cryptocurrency market in the region.
