XRP Dominates Upbit with $440 Million Trading Volume, Leading Korean Won Market on July 28

• Upbit’s total 24-hour trading volume reached $3.147 billion on July 28, 2024.

• XRP/KRW dominated with a 14.05% market share and $440 million in trading volume.

• Ethereum and GLM ranked second and third, with $258 million and $157 million traded respectively, according to COINOTAG data.

Upbit’s $3.147B trading volume highlights XRP/KRW dominance. Discover key market trends and volume stats with COINOTAG’s latest crypto update.

What Led Upbit’s Trading Volume to Reach $3.147 Billion on July 28?

Upbit’s impressive 24-hour trading volume of $3.147 billion was primarily driven by strong activity in the Korean won market. The XRP/KRW trading pair led this surge, accounting for 14.05% of the market share with $440 million traded. This dominance reflects increased investor interest and liquidity in XRP within South Korea.

How Did Ethereum and GLM Contribute to Upbit’s Market Activity?

Ethereum followed XRP with an 8.24% share, translating to $258 million in trading volume. GLM secured third place with 5.02% and $157 million traded. These figures indicate sustained demand for Ethereum and emerging interest in GLM tokens, supporting a diversified trading environment on Upbit.

What Is the Significance of XRP/KRW Leading Upbit’s Korean Won Market?

XRP/KRW is the leading trading pair on Upbit’s Korean won market, reflecting strong investor confidence and liquidity. This leadership position is significant as it highlights XRP’s role in South Korea’s crypto ecosystem, driven by active trading and market demand.

Why Is Ethereum Still a Key Player on Upbit?

Ethereum remains a cornerstone of Upbit’s trading platform due to its widespread adoption and smart contract capabilities. Its 8.24% market share and $258 million volume demonstrate ongoing investor trust and its critical role in decentralized finance and NFT markets.

Frequently Asked Questions

What factors contributed to XRP/KRW’s market dominance on Upbit?

XRP/KRW’s dominance is due to high liquidity and strong investor interest in South Korea, supported by active trading volumes and market confidence.

How does Ethereum’s trading volume impact Upbit’s overall market?

Ethereum’s significant trading volume of $258 million maintains its position as a key asset, influencing market trends and investor strategies on Upbit.

Key Takeaways

• Upbit’s 24-hour volume hit $3.147B: Highlighting strong market activity on July 28, 2024.
• XRP/KRW led with 14.05% market share: Demonstrating XRP’s dominance in the Korean won market.
• Ethereum and GLM followed closely: With $258M and $157M traded, respectively, showing diversified investor interest.

Conclusion

Upbit’s record trading volume of $3.147 billion on July 28 underscores the platform’s robust liquidity and market engagement, with XRP/KRW leading the Korean won market. Ethereum and GLM’s strong performances further indicate a dynamic trading environment. COINOTAG will continue monitoring these trends to provide timely, expert crypto insights.

• Upbit’s 24-hour trading volume surged to $3.147 billion on July 28, 2024, led by XRP/KRW’s 14.05% market share.

• Ethereum and GLM followed with significant trading volumes of $258 million and $157 million, respectively, reflecting diverse market interest.

• COINOTAG’s data highlights sustained investor confidence in these key cryptocurrencies within the Korean won market.

Upbit’s $3.147B volume on July 28 spotlights XRP/KRW leadership and strong Ethereum, GLM activity. Stay informed with COINOTAG’s expert crypto coverage.

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