This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.
XRP Tops Upbit Trading Volume as Korean Retail Money Rotates Into Crypto
N
News EditorTechub News says Korean retail investors have recently taken profits from tech stocks and rotated into the crypto market. On Upbit, the XRP/KRW pair recorded $319 million in daily trading volume, accounting for 21.86% of the exchange’s activity and surpassing Bitcoin, Ethereum and Tether. The report also says the rotation has continued since last Friday, when Upbit’s daily turnover jumped 250% to $1.8 billion. Korea’s “kimchi premium” is now around -0.5%, indicating local prices are roughly in line with global levels. U.Today is cited as saying local trading volume may be a major driver of XRP’s global price moves.
Techub News says Korean retail investors have recently taken profits from tech stocks and moved into the crypto market.
On Upbit, XRP/KRW has become the most actively traded pair. The pair posted $319 million in daily volume, equal to 21.86% of the exchange’s total activity and ahead of Bitcoin, Ethereum and Tether.
The report says the move extends a rotation that began last Friday, when Upbit’s daily trading value rose 250% to $1.8 billion.
Korea’s “kimchi premium” is currently about -0.5%, which suggests local prices are broadly aligned with global levels.
U.Today is cited in the report as saying local trading volume may be a main factor behind XRP’s global price moves.
300
Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.