- South Korean traders are driving a surge in Upbit’s volume, topping $3.3 billion, with XRP and Trump Coin leading the charge.
- XRP saw $367M in trades, while Trump Coin contributed 16.45% of total activity, reflecting rising interest in altcoins.
South Korea’s largest crypto exchange, Upbit, has seen a surge in activity, clocking over $3.3 billion in 24-hour trading volume, signaling a renewed appetite among Korean investors for altcoins—especially XRP and the Trump Coin.
Despite an 8.2% dip compared to the previous day, XRP emerged as a top performer. The XRP/KRW pair alone accounted for over $367 million, or more than 11% of the exchange’s total volume, according to CoinGecko. Priced at $2.15, XRP traded with a tight 0.06% spread and displayed robust liquidity. The buy-side order book held over $1 million, while the sell side hit $2.67 million, underscoring strong investor confidence.
Also read: Binance Launches Fund Accounts to Attract Institutional Investors and Streamline Crypto Asset Management
But XRP wasn’t the only headline-maker. The Official Trump token (TRUMP) saw staggering traction, contributing 16.45% of Upbit’s total volume with $546 million in trades. Trading at $12.00, the token maintained healthy liquidity despite the inherent volatility in politically linked cryptocurrencies. Its price jumped 29%, highlighting its growing influence on the platform.
Bitcoin Gold (BTG) also caught the spotlight, posting an eye-catching 57.5% surge to $0.8499, placing it among the biggest gainers of the day. Ardor and Trump Coin followed closely, up 39.9% and 29%, respectively.
Meanwhile, Bitcoin held its ground at $92,218.58 with $211 million in volume. While its gains were modest compared to the altcoin pack, its consistent performance and stable liquidity continued to attract institutional interest.
Other notable movers included DeepBook, which drew in $224 million in volume despite a 20% price drop, and Aergo, a quiet contender that saw $160 million in trades while boasting the tightest spread on the platform at 0.04%.
With traders increasingly gravitating toward politically charged tokens and high-volatility altcoins, Upbit’s surging volumes underscore South Korea’s pivotal role in shaping short-term crypto market dynamics.