South Korea’s cryptocurrency market has seen remarkable activity over the past 24 hours.
A joint analysis of data from Upbit and Bithumb, two of Japan’s largest exchanges, shows that trading volumes are increasing rapidly, especially for some altcoins.
This spike in trading volume concentrated in the KRW pair shows that Korean retail investors are once again focusing on high-risk short-term price movements. XRP, meme coins and next generation projects are among the major players that contributed to the increase in trading volume.
The top altcoins according to trading volume data from two crypto exchanges are:
- XRP – $264.1 million
- Dogecoin (DOGE) – $73 million
- PEPE – $61.3 million
- Solana (SOL) – $56.9 million
- President Trump (TRUMP) – $46.4 million
- Pudgy Penguins (PENGU) – $40.3 million.
- BONK – $38.8 million
- Virtual Protocol (VIRTUAL) – $31 million
- World Liberty Financial (WLFI) – $19.3 million (Upbit only)
- World Coin (WLD) – $18.8 million (Bithumb only)
With a total value of over $260 million, XRP is by far the leader, but the heavy trading activity seen in meme coins such as DOGE, PEPE, and BONK is indicative of the speculative nature of the Korean market.
*This is not investment advice.
