This Altcoin Wave is Sweeping Through South Korean Exchanges! Bitcoin (BTC) and Ethereum (ETH) Have Lost Their Top Spot!

While Ethereum and altcoins have been trading sideways in recent days, some altcoins in South Korea have experienced a notable increase in trading volume.

Accordingly, amidst the uncertainty in the Korean stock market, XRP trading on Upbit and Bithumb has increased.

According to the data, XRP has topped the trading volume rankings on major South Korean exchanges, surpassing two giants like Bitcoin (BTC) and Ethereum (ETH). This is interpreted as an indicator of the risk appetite of local investors.

On the Upbit KRW market, XRP’s 24-hour trading volume reached approximately $110.9 million, surpassing BTC and ETH. During the same period, Bitcoin’s trading volume was $88.6 million and Ethereum’s was $67 million.

On the Bithumb KRW market, XRP’s trading volume reached $41 million in the last 24 hours, lagging behind only USDT. XRP’s trading volume on Bithumb surpassed both Bitcoin and Ethereum’s.

According to market analysts, this trend follows a decline in the South Korean stock market, which occurred after a presidential policy adviser suggested that companies using artificial intelligence should return a portion of their profits to the public.

In this context, the increase in XRP transactions among South Koreans is noteworthy, as they are focusing on one of the most familiar altcoins to them.

Analysts also note that historically, volatility tends to increase when XRP trades near resistance levels as trading volume in South Korea increases.

*This is not investment advice.

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