South Korea’s Upbit sees trading volume jump 273% as investors return to crypto

Upbit trading volume surges 273% in 24 hours

Upbit, South Korea’s largest cryptocurrency exchange, saw its trading volume increase by 273% in the past 24 hours. The surge comes as South Korean investors return to crypto amid a recent bitcoin price rally.

The exchange processed around $1.84 billion worth of transactions, marking its highest daily volume since mid-March. Bitcoin, the largest cryptocurrency by market value, rose 8.28% in the same period, trading at $78,554.

Key numbers behind the surge

• Upbit’s 24-hour trading volume reached $1.84 billion, up 273%.
• XRP was the most-traded cryptocurrency on Upbit, with $418.9 million in trades.
• Bithumb, South Korea’s second-largest exchange, saw a 132.9% volume increase to $934.9 million.
• The broader crypto market rose 7.2% in the past day.

Why investors are returning to crypto

South Korea’s crypto market had seen a decline earlier in 2026 as investors shifted focus to the stock market, particularly semiconductor stocks like Samsung Electronics and SK Hynix. The KOSPI, South Korea’s benchmark stock index, reached record highs during this period.

However, a recent rebound in bitcoin and other cryptocurrencies has drawn attention back to digital assets. One market observer noted that the U.S. Treasury Department’s expanded debt buyback announcement helped fuel the rally.

What analysts say about the trend

Min Jung, an associate researcher at Presto Research, told The Block that South Korean investors are "return-chasing" rather than loyal to specific assets. Jung expects a larger influx of capital into crypto if the rally continues, as investors look for opportunities where prices have lagged behind stocks.

Jung also noted that Korean capital tends to follow global market momentum rather than lead it. If the rally holds, Korean investors could amplify the upward trend.

What is confirmed

• Upbit’s 24-hour trading volume increased by 273% to $1.84 billion.
• Bithumb’s volume rose 132.9% to $934.9 million.
• XRP was the most-traded cryptocurrency on both exchanges.
• Bitcoin and the broader crypto market saw significant gains in the past 24 hours.

What is still unclear

• Whether the surge in trading volume will be sustained beyond the current rally.
• How much of the trading volume is driven by new capital entering the market versus existing investors reallocating funds.

Why this matters for South Korean investors

The surge in trading volume suggests a renewed interest in cryptocurrencies among South Korean investors. If the trend continues, it could signal a shift away from the stock market, where gains have already been substantial in 2026. However, analysts caution that Korean investors typically follow market momentum rather than initiate it.

Sources

• The Block
• CoinGecko