XRP Surges as South Korea’s Preferred Cryptocurrency for Retail Trading
- XRP has become the most-traded asset on Upbit, surpassing Bitcoin and Ethereum.
- On Bithumb, XRP/KRW ranks second in trading volume, following only the USDT pair.
- Altcoins represent approximately 70% to 80% of trading volume on South Korean exchanges, significantly higher than the global average of around 50%.
- Over seven million South Koreans are registered on local exchanges, about 15% of the population.
- The SEC’s lawsuit against Ripple concluded in August, boosting institutional interest in XRP-focused ETFs.
The preference for XRP in South Korea is driven by its liquidity and speed, making it ideal for short-term trading strategies favored by local investors. This trend reflects a broader shift towards altcoins amidst regulatory developments that have enhanced XRP’s legitimacy.
As XRP dominates retail trading with significant volumes on platforms like Upbit and Bithumb, its role as a speculative tool is solidifying within the market framework established by local traders. (Source)
