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Upbit trading volume jumps 273% as South Korean investors re-enter crypto

CoinGecko data show Upbit processed about $1.84 billion in crypto transactions in 24 hours, its highest daily volume since mid-March.

Reported · Written up by our desk · Market Structure

Upbit, South Korea’s largest crypto exchange, saw its 24-hour trading volume surge 273% amid a renewed bitcoin rally, The Block reported. The outlet cited CoinGecko data showing Upbit processed roughly $1.84 billion in crypto transactions over the past day, the largest daily volume the exchange has recorded since mid-March.

The Block said XRP was the most traded asset on Upbit in the past 24 hours, with $418.9 million worth of trades. Bitcoin, USDT, and ether followed in the rankings, according to the same dataset.

The Block also reported that South Korea’s second-largest exchange, Bithumb, recorded a 132.9% rise in volume to $934.9 million in the past day. XRP was again the top traded cryptocurrency on Bithumb.

The Block linked the shift in activity to a prolonged crypto bear market that began in early 2026, which diverted attention and capital away from the local market. It noted that the change is visible in H1 results for Upbit and Bithumb, which together showed about 50% declines in operating revenue, with Upbit’s net profit down 74% and Bithumb swinging to a net loss from a profit.

Latest closeBitcoin $77,298.59 ▲5.8%|XRP $1.420 ▲11.9%

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