South Korea Sees Record Crypto Trading Volumes as Bitcoin Rally Continues
The cryptocurrency market has seen a significant surge in South Korean investors returning to crypto assets. The strong rise of Bitcoin has prompted this renewed interest, and trading volumes on major exchanges have reached record highs.
According to recent data, Upbit, the largest cryptocurrency exchange in South Korea, saw its trading volume increase by 273% in the last 24 hours, reaching $1.84 billion. This figure represents the highest daily volume the exchange has seen since mid-March.
The most traded cryptocurrency on Upbit was XRP, with a trading volume of approximately $418.9 million in the last 24 hours, followed by Bitcoin (BTC), USDT, and Ethereum. Bithumb, the country's second-largest exchange, also saw an increase in trading volume of 132.9% to $934.9 million, with XRP becoming the most traded cryptocurrency there as well.
In an interview with The Block, Min Jung, a researcher at Presto Research, noted that the bear market, which began in late 2025 and continued into 2026, drove South Korean investors away from the cryptocurrency market. However, the recent rise in Bitcoin has reignited interest in the crypto market.
Jung stated that if the upward trend continues, there could be even larger capital inflows from South Korea into the crypto market. He also noted that South Korean investors generally pursue returns rather than tying themselves to a single asset and will show more interest in the crypto market if the Bitcoin-led rally continues.