South Korean equities extended their week-long decline on July 13, with Samsung and SK Hynix leading another market drop that triggered circuit breakers, according to BlockBeats. The report said the continued weakness in local stocks appears to be pushing retail money back into crypto.
Citing CoinGecko data, BlockBeats said Upbit, the largest centralized exchange in South Korea, recorded $4.12 billion in trading volume over the past 24 hours, up 436%. On the exchange, the top five tokens by trading volume were Bitcoin, XRP, ETH, T and BLAST.
The figures point to a sharp pickup in activity on Upbit as domestic stock losses continued. The report did not provide a longer time frame for the volume comparison beyond the stated 24-hour increase, and it did not disclose a breakdown of net inflows. Still, the move in trading activity coincided with renewed pressure in South Korea's stock market and a visible rotation by local retail participants back toward crypto trading.
Upbit volume spikes as South Korean stocks keep falling
South Korean stocks extended their decline on July 13, with Samsung and SK Hynix leading another market drop that triggered circuit breakers, according to BlockBeats. The outlet said the continued sell-off in equities appears to be driving local retail money back into crypto.
CoinGecko data cited by BlockBeats showed that Upbit, South Korea's largest centralized exchange, posted $4.12 billion in trading volume over the past 24 hours, a 436% increase. The top five assets on Upbit by trading volume were Bitcoin, XRP, ETH, T and BLAST.
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