Bitcoin News Today: South Korean Investors Fuel 30.8% Surge in Upbit Trading Volume, Ethereum Leads the Charge

Upbit’s trading volume increased by 30.8% month-on-month, reaching $20.95 billion in August, marking a significant jump and reinforcing its position as a leading cryptocurrency exchange in Asia. The exchange’s dominance was further highlighted by the ETH/KRW trading pair, which captured a 17.12% market share in the KRW segment. This performance reflects a broader trend of increased Korean investor activity in digital assets, particularly in Ethereum, as local exchanges continue to refine their liquidity and product offerings to meet growing demand [1].

The surge in trading activity on Upbit came amid heightened activity across the cryptocurrency market, driven in part by the anticipated listing of new tokens and stablecoins. One of the most notable developments was the upcoming launch of WLFI, the native token of World Liberty Financial (WLF), a DeFi initiative backed by Donald Trump and his family. Major global and regional exchanges, including Binance, Bithumb, and Upbit, have announced their plans to list WLFI, with derivatives trading already seeing significant spikes. On Sept. 1, WLFI derivatives trading volume jumped over 530% in a 24-hour period to $3.95 billion, while open interest climbed by more than 60% to $931.9 million. The increase coincided with a token unlock event and generated heightened market speculation [1].

Upbit’s listing of WLFI came in multiple formats, including the USD1 stablecoin with KRW, BTC, and USDT pairs. The platform also added the WLFI/KRW, WLFI/BTC, and WLFI/USDT trading pairs. This diverse offering reflects Upbit’s strategy to cater to a wide range of investor preferences, from spot trading in fiat to derivatives and stablecoin pairs. Meanwhile, Bithumb, South Korea’s second-largest exchange, confirmed its listing of the WLFI/KRW pair, indicating growing institutional and retail interest in the asset [1].

World Liberty Financial’s USD1 stablecoin, which recently launched on the Solana blockchain, is designed to be pegged 1:1 to the US dollar. The project aims to leverage Solana’s high-speed and scalable infrastructure to facilitate efficient DeFi applications and digital asset transactions. The timing of the stablecoin’s launch aligned with its upcoming listing on Coinbase, further amplifying market anticipation. This development positions WLF as a multi-asset DeFi entity with ambitions beyond token trading, extending into the stablecoin and payments space [1].

As Upbit and other exchanges continue to expand their product offerings, the broader cryptocurrency trading landscape shows signs of sustained growth. According to available data, exchanges with trading volumes between 1,000 BTC and 10,000 BTC, and even those reaching 10,000–100,000 BTC, are gaining traction. This trend indicates a maturing market where institutional players and retail investors are increasingly adopting digital assets as part of their investment strategies. The increased trading volumes also suggest that liquidity remains a critical focus for exchanges, particularly in emerging markets like South Korea, where regulatory clarity and user adoption are steadily improving [2].

Source:

[1] Binance, Upbit Race to List World Liberty Financial, WLFI Derivatives Shoot 500% (https://finance.yahoo.com/news/binance-upbit-race-list-world-093936639.html)

[2] Cryptocurrency Exchange Trading Volume - All Exchanges (https://newhedge.io/bitcoin/exchange-trading-volume)