The rapid growth of the cryptocurrency market, primarily Bitcoin, has prompted South Korean investors to turn their attention back to crypto assets.
Meanwhile, South Korea's largest cryptocurrency exchange, Upbit, recorded a 273% increase in trading volume over the past 24 hours, reaching $1.84 billion. This figure represents the highest daily trading volume on the exchange since mid-March.
$XRP became the most traded cryptocurrency on Upbit. Its trading volume over the past 24 hours was approximately $418.9 million, followed by Bitcoin (BTC), USDT, and Ethereum.
The trading volume on Bithumb, the country's second-largest exchange, also increased by 132.9%, reaching $934.9 million, with $XRP becoming the most traded cryptocurrency on this exchange as well.
In an interview with The Block, Presto Research analyst Min Jeong stated that the bear market, which began in late 2025 and lasted into 2026, had deterred South Korean investors from the cryptocurrency market.
Jeong noted that investors in South Korea had recently been mainly focused on stocks, but the recent surge in Bitcoin has reignited interest in the cryptocurrency market.
In this context, Jeong stated that if the upward trend continues, the influx of capital from South Korea into the cryptocurrency market could become even more significant.
In conclusion, Jeong noted that South Korean investors typically seek profits rather than sticking to a single asset, and they will show greater interest in the cryptocurrency market if the Bitcoin-led rally continues, which could further amplify this growth.
*This is not investment advice.
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