Data from South Korea's two largest cryptocurrency exchanges, Upbit and Bithumb, reveals a significant surge in trading activity over the past 24 hours, with XRP emerging as the dominant asset. Combined spot market data shows XRP's trading volume reached $346 million, far outpacing other major cryptocurrencies.
Bitcoin (BTC) followed with $230.8 million in volume, while Ethereum (ETH) recorded $167.9 million. The stablecoin Tether (USDT) saw $114.8 million in trades. Other altcoins experiencing notable volume increases include Solana (SOL) at $57.7 million, SynFutures (F) at $46.7 million, and Lagrange (LA) at $33.1 million.
This surge in South Korean trading volume coincides with a period of broader market pressure, as highlighted by separate CoinGecko trending data. The trending list, ranked by search activity over three hours, shows Bitcoin at the top as traders use it as a primary reference point to assess market direction after recent volatility. Despite a 2.7% 24-hour gain, Bitcoin remains down 8.3% over seven days with roughly $39.5 billion in daily volume.
The CoinGecko data indicates the market is in a monitoring phase, with search activity concentrated on major benchmarks like Ethereum, Solana, and XRP—all of which remain on the trending list despite negative weekly performance—and on high-volatility movers. This suggests traders are actively reassessing positions and watching key price levels rather than exhibiting renewed risk appetite.
