South Korea's crypto market lit up over the weekend as 14 altcoins posted massive volume spikes on Upbit and Bithumb, the country's two largest exchanges. Over 16.2 million South Koreans now hold crypto accounts — that's 32% of the population, surpassing the number of stock investors. According to Chainalysis, South Korea has received over $722 billion in crypto value, second only to the United States, with crypto holdings representing roughly 4.2% of its GDP.
XRP and TRUMP Top the Volume Charts
XRP remains the perennial favorite among Korean retail. Upbit alone recorded $88 million in XRP volume, while Bithumb added $33 million, pushing the weekend total to $121 million. The most active pair on Upbit is XRP/KRW with $24 million in 24-hour volume. Korean accumulation of XRP has been consistent for years.
TRUMP surged 52% in 24 hours after the announcement of a second Mar-a-Lago gala for the top 297 token holders. Korean traders piled in, generating $88 million in volume on Upbit alone. Global spot volume hit $1.4 billion. Still, the token is 94% below its all-time high of $74.
Bitcoin, Ethereum Hold Steady; Dkargo Emerges as Dark Horse
BTC and ETH maintained solid volume across both exchanges. ETH printed its first green weekly candle in eight weeks, coinciding with the Korean surge. The standout micro-cap was Dkargo (DKA), a logistics blockchain built on Arbitrum Layer 3. Its volume hit $82 million — nine times its 30-day daily average — surging over 28% in under 12 hours.
NEO, Alpha, Anoma and AI-Focused Sahara AI Join the List
NEO, one of crypto's earliest smart contract platforms, maintains a loyal Korean following. DeFi protocol Alpha (AQT), privacy blockchain Anoma, and AI-focused Sahara AI also appeared in the top volume list. Sahara AI's presence during a broader market downturn suggests early accumulation interest in the AI-crypto narrative from one of the world's most crypto-active populations.
Dogecoin, BitTorrent, Contentos Round Out the Surge
DOGE regularly spikes when sentiment improves, and this weekend was no different. BitTorrent (BTT) continues to see activity across Asian markets, while Contentos (COS) benefits from retail rotation into small-cap ecosystem tokens.