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XRP Surges to Top Spot on South Korea's Largest Crypto Exchange

Coin WorldMonday, Jan 27, 2025 3:58 am ET

1min read

XRP Dominates Upbit Trading Volume with 11.56% Share in Korean Won Market

XRP, the native cryptocurrency of Ripple, has emerged as the top trading asset on Upbit, the largest cryptocurrency exchange in South Korea. According to data from CoinGecko, XRP/KRW trading pair accounted for 11.56% of the total trading volume on Upbit in the past 24 hours, ranking first in the Korean won market. This is a significant development, as it highlights the growing interest and demand for XRP in the Korean market.

The rest of the top five trading pairs on Upbit by volume were JUP, SBD, BTC, and USDT. JUP, the native token of the Jupiter network, has been gaining traction recently due to its innovative decentralized exchange (DEX) and infrastructure development. SBD, the native token of the Steem blockchain, has also been performing well, thanks to its active community and growing ecosystem.

Bitcoin (BTC) and Tether (USDT) continue to maintain their positions as the top cryptocurrencies by market capitalization and trading volume. However, the dominance of XRP on Upbit suggests that there is a strong appetite for the cryptocurrency in the Korean market, which could lead to further growth and adoption in the region.

As the cryptocurrency market continues to evolve, it is essential to monitor the trading volumes and market shares of different assets. The dominance of XRP on Upbit is a clear indication that the cryptocurrency is gaining traction in the Korean market, and investors should pay close attention to its performance and potential growth opportunities.

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