Upbit Seizes Attention with Remarkable Trading Volume in the Crypto Market

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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 crypto data platform CoinGecko, Upbit’s total trading volume surged to an impressive $20.84 billion. During this period, the most traded cryptocurrency pair was XRP/KRW, accounting for 18.26% of the total trading volume. Other significant trading pairs included AUCTION, LOOM, BTC, and UXLINK.

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. The intense interest from individual investors in South Korea plays a crucial role in boosting XRP’s popularity.

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. Furthermore, the high liquidity provided by the South Korean won also plays a role in enhancing XRP’s trading volume on Upbit.

Strong Interest in AUCTION, LOOM, and UXLINK Altcoins

Following XRP, AUCTION and LOOM altcoins are also attracting attention due to their impressive trading volumes. AUCTION, developed by Bounce Finance, is utilized in auction platforms and has gained popularity among crypto investors for speculative trading. In the past 24 hours, it became the second most traded cryptocurrency on Upbit, indicating heightened interest from investors, with AUCTION/KRW accounting for 10.31% of the total volume.

The LOOM coin from the Loom Network also stands out on Upbit. Compatible with Ethereum and other blockchain networks, LOOM is gaining traction among South Korean investors, representing 7.42% of the total volume. The increasing trading volume on Upbit signals a renewed interest in LOOM.

UXLINK altcoin followed closely, achieving 5.46% of the total volume, making it the fifth most traded cryptocurrency after XRP, AUCTION, LOOM, and BTC.

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