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Crypto Trading Volume Surges in Korea Amid Bitcoin Price Rally
Finance · Investment Banks/Brokers · yonhap_finance · 2026-08-24
Major South Korean cryptocurrency exchanges see a tenfold increase in trading volume as Bitcoin and Ethereum prices climb, signaling a return of market interest.
What Happened
Market Revival: Cryptocurrency exchanges in South Korea are experiencing a significant surge in activity as Bitcoin and Ethereum prices rally sharply. Daily trading volumes at major platforms like Upbit and Bithumb have increased nearly tenfold compared to the previous week, reflecting renewed investor enthusiasm.
Ripple Dominance: Ripple (XRP) has emerged as the most actively traded asset across domestic exchanges. It accounts for a substantial portion of total trading volume on platforms like Upbit and Bithumb, acting as a primary driver for the current market momentum in Korea.
Growth Drivers: The market rebound is largely attributed to positive sentiment surrounding U.S. Treasury buyback news and expectations for favorable crypto legislation. As the stock market enters a period of consolidation, liquidity is flowing into the crypto market, which remains accessible during weekends.
Future Outlook: Experts caution that for this rally to be sustainable, political promises regarding crypto policy must materialize into concrete actions. Analysts emphasize that the market needs more than just speculative narratives to maintain long-term growth, unlike previous cycles that failed to sustain momentum.