Ripple Leads Charge as Crypto Trading Volume Surges Tenfold

The cryptocurrency market has seen a surge in trading volume over the past week, with prices of Bitcoin and Ethereum experiencing sharp increases. According to data from CoinMarketCap, the 24-hour trading volume on Upbit reached 2.2704 trillion won as of 10:00 a.m. today (the 24th), a tenfold increase compared to the previous week.

The most actively traded cryptocurrency on domestic exchanges was Ripple (XRP), which accounted for 23.77% of Upbit's total trading volume, ranking first. On Coinone, Ripple's stablecoin RippleUSD accounted for the largest share at 26.28%, and Ripple was the cryptocurrency with the third-largest trading share.

The surge in trading volume is attributed to the rise in prices of Bitcoin and Ethereum, which have increased by around 22% and 29% respectively over the past week. Experts analyze that for the cryptocurrency market boom to continue in the long term, policy expectations, such as the deregulation of cryptocurrencies mentioned by U.S. President Trump, must materialize.