XRP Trading Volume Jumps On Leading SK Crypto EXCH
XRP is seeing an increase in trade volumes on South Korean crypto exchanges, including Bithumb, Upbit, and Korbit, according to CoinMarketCap. The XRP/KRW trading pair accounted for 14.76% of all volumes on the Bithumb platform, totaling $2mn, and remains the second most traded asset behind Bitcoin (BTC).
Bithumb is one of South Korea’s top cryptocurrency exchanges, with a daily trading volume of $205 million. The same is true for Korbit, a South Korean exchange that is one of the oldest and largest in the cryptocurrency sector.
After Bitcoin, XRP is the second most traded asset, with the XRP/KRW combination accounting for 19.96% of total volume. XRP has surpassed Ethereum, which is currently in third place.
XRP is one of the top five traded assets on Upbit, South Korea’s largest cryptocurrency exchange by trading volume, ranking third after Bitcoin and Mask Network.
This is notable because the XRP price has been quite stable, rising only 1.49% in the last 24 hours to $0.48. A surge in trading volumes frequently correlates with price volatility, as traders buy or sell big quantities in order to profit.
(With inputs from Shikha Singh)
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