Upbit stays No. 1 in Korea as crypto rally revives exchange volumes

Upbit remains ahead of other South Korean crypto venues, recording roughly $1.04 billion in spot volume over a 24-hour window as traders continue to jump on the crypto momentum train. 

The figure is more than the combined turnover of Upbit’s three closest domestic rivals. 

The recent bitcoin rally has given the market a chance to rebound, and Korean retail money has been pulled back onto local order books as a result. 

Where does Upbit rank in the South Korean market? 

Upbit, operated by Dunamu, handled about $1.04 billion in spot trading volume in just 24 hours, beating Bithumb, Coinone, and Korbit combined volume. 

Bithumb recorded around $632.6 million, while Coinone had about $67.9 million, and Korbit (now called Digital X) registered close to $11 million.

This surge in trading volume comes after Bitcoin climbed past $80,000 in late August for the first time since mid-May. The price jump has encouraged Korean traders to start putting money back into local exchanges.

Upbit has been around since October 2017 and holds South Korea’s first virtual asset service provider license. It lists over 180 tokens, while Bithumb, which started in 2014, lists more than 440 assets 

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