Crypto
XRP Surges Past Bitcoin in Korean Trading Volume
XRP is dominating the Korean exchange Upbit in terms of trading volume. According to onchain data, XRP's 24-hour volume reached $203.9 million on Monday night, significantly higher than Bitcoin's $143 million and Ether's $119 million.
In fact, XRP has consistently out-traded Bitcoin on every day from August 23 to September 21 in terms of trading volume in Korean won. The margins were sometimes huge, with XRP drawing $418M on August 23 compared to Bitcoin's $93.1M.
The strong performance is attributed to Korean retail traders who continued to trade XRP even when its price fell by 10%. The asset climbed about 19% on Upbit from $1.28 (₩1,749) on September 15 to $1.52 (₩2,078) at the September 21 close.