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13/05/26 05:46 UTC-04

Altcoin Wave Hits South Korean Markets as Bitcoin and Ethereum Lose Dominance

While Ethereum and other altcoins have been trading sideways in recent days, several cryptocurrencies in South Korea recorded a notable increase in trading volume.

Amid uncertainty in the South Korean stock market, trading activity for XRP surged on Upbit and Bithumb.

According to market data, XRP became the most traded cryptocurrency on South Korea’s largest exchanges, surpassing both Bitcoin and Ethereum. Analysts interpret this as a sign of increased risk appetite among local investors.

On Upbit, XRP trading volume against the Korean won (KRW) reached approximately $110.9 million over the past 24 hours, outperforming Bitcoin and Ethereum. During the same period, Bitcoin recorded trading volume of $88.6 million, while Ethereum reached $67 million.

On Bithumb, XRP trading volume in KRW pairs climbed to $41 million over the last 24 hours, second only to Tether. XRP also surpassed Bitcoin and Ethereum trading volumes on that exchange.

According to market analysts, this trend is linked to weakness in the South Korean stock market after a presidential economic advisor suggested that artificial intelligence companies should redistribute part of their profits to the public.

In this context, XRP trading activity among South Korean investors became particularly noticeable, as traders focused on one of the most familiar altcoins in the region.

Analysts also noted that XRP has historically experienced higher volatility whenever trading volume in South Korea increases while the token trades near major resistance levels.

See also: "Binance Delists Multiple Altcoin Spot Trading Pairs"

#XRP (XRP) #Upbit #Bithumb

Editor: Yulia Krasnaya
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