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HomeCrypto NewsMarketXRP Overtakes Bitcoin in Volume on Top 4 Korean Exchanges

XRP Overtakes Bitcoin in Volume on Top 4 Korean Exchanges


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XRP dominates the market share in trade volume across South Korea’s four largest exchanges.

XRP trade volume across the top South Korean crypto exchanges has recently seen a massive surge. The asset currently dominates the market share in Korea’s four largest exchanges, comfortably overtaking Bitcoin (BTC). This development underscores renewed demand for the XRP, as South Korean traders look to leverage its latest rally.

Data from price-tracking resource CoinMarketCap indicates that XRP has overtaken BTC in trade volume dominance on UpBit, Bithumb, Coinone, and Korbit, all among South Korea’s top five cryptocurrency exchanges.


XRP is witnessing a 24-hour trade volume of $569.2 million on UpBit, Korea’s largest exchange. This volume represents 17.03% of UpBit’s trade volume in the past 24 hours. In contrast, Bitcoin sees a 24-hour volume of $188.6 million, accounting for 5.64% of total trade volume.


Moreover, XRP’s trade volume on Bithumb currently stands at $137.9 million at the time of writing, representing 34.05% of the exchange’s total trade volume. On the other hand, Bitcoin’s trade volume amounts to $71.1 million, representing 17.57% market share. Bithumb is South Korea’s second-largest exchange.


Coinone, the third largest exchange in Korea, is also seeing a dominance of XRP in its trade volume, as the asset boasts a volume of $35.9 million, accounting for 42.08% of its volume in the past 24 hours. XRP’s trade volume on Coinone is more than double of Bitcoin’s volume, which stands at $16.4 million.


XRP’s dominance also spilled into Korbit, Korea’s fifth-largest exchange. The asset currently commands 38.02% of Korbit’s total 24-hour trade volume. The asset’s volume stands at $2.8 million. BTC follows closely behind in market share, with 36.99%. All volumes are taken from trades against the Korean won (KRW).

XRP’s Rally Endures

Despite a 1.71% decline in the past 24 hours, XRP’s rally endures, as the asset has maintained a 22.34% gain in the past week. This positions XRP as the highest gainer among the top 100 assets by market cap.

The asset reclaimed the much-coveted $0.55 zone yesterday for the first time in ten months. It towered over the territory, reaching a high of $0.579 before facing a roadblock. XRP is trading for $0.5412, with a new goal to reclaim the $0.60 price level.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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