South Korean Exchange Upbit Becomes 24-Hour Volume Leader in XRP Trading with $2.5 Billion

The largest exchange in South Korea Upbit commands $2.5 billion in 24-hour trading volume, leading to an enormous resurgence in XRP trading activity.

South Korean Exchange Upbit Becomes 24-Hour Volume Leader in XRP Trading with $2.5 Billion

Due to the market’s renewed interest, XRP’s victory in the Ripple vs. SEC lawsuit has predictably resulted in an enormous increase in trading activity. Upbit, the biggest exchange in South Korea, has surpassed all other exchanges, including Binance, in terms of 24-hour trade volume during this surge in activity.

Colin Wu Recognized the Rise

The bullish news was first brought to the public’s attention by prominent blockchain writer Colin Wu in a tweet today. Wu claims that this proves South Korean investors made large contributions to the most recent XRP rise.

When Wu made his revelation, the reporter stated that Binance had a 24-hour trade volume of $1.7 billion whereas Upbit had a 24-hour transaction volume of $2.1 billion for XRP. However, recent data point to a more astounding number.

According to CoinGecko data, Upbit’s 24-hour trade volume for XRP is $2.57 billion for the XRP/KRW pair at the early of the day. This amount corresponds to 18.82% of the total volume of XRP trades on all markets worldwide.

XRP Wins the Case

A few hours after Judge Torres declared that XRP is not a security, there has been an increase in trading activity. The SEC’s accusations against Ripple and its officials regarding the selling of XRP were also decided upon by the Judge.

Despite the fact that Judge Torres determined that Ripple’s institutional sales of XRP constituted an investment contract, she pointed out that programmatic sales, sales made by Chris Larson and Brad Garlinghouse, and other distributions do not.