For some time now, the trend of South Korean investors has been causing huge spikes in the trading volume and price of certain altcoins.
One of these altcoins was undoubtedly XRP. So much so that XRP, which gained the upper hand in the SEC-Ripple case, became the focus of attention of South Korean investors in the last days of March, and the trading volume on local exchanges rose to record levels.
Now, as in March, after the court's decision in favor of XRP, the XRP transaction volume reached $ 2.6 billion in the South Korean stock market UpBit.
XRP trading volume on Upbit, South Korea's largest exchange, has risen above all other exchanges, including Binance, recording the largest trading volume in the last 24 hours, while Chinese crypto journalist Colin Wu (Wu Blockchain) said in a post that “South Korean investors are still at an important stage of the XRP rally. “It continues to be a driving force,” he said.
According to Coingecko, South Korea’s largest exchange, Upbit, ranks first in the trading volume of XRP, reaching $2.1 billion in 24 hours, Binance is 1.7 billion, and OKX ranks third with 500m; showing Korean investors still a major thrust of this XRP pump.…
— Wu Blockchain (@WuBlockchain) July 14, 2023
Bitcoin (BTC) and Ethereum (ETH) generally make up the majority of trades on Upbit and other South Korean exchanges, while XRP's victory was positively reflected in XRP trading volumes. At this point, the increased volume of XRP in South Korean stock markets contributed to a significant part of the volume of 13 billion dollars in global stock markets.
*Not investment advice.