Trading volumes on South Korea’s top crypto platforms, Upbit and Bithumb, have surged for a select group of altcoins. In the last 24 hours, data shows heightened activity centered around 15 altcoins, with Euler (EUL), DeXe (DEXE), and Shiba Inu (SHIB) leading the pack.
Trading Volume Highlights
Euler topped the list with a combined trading volume exceeding $83 million: $40.4 million on Upbit and $42.7 million on Bithumb. DeXe followed closely, generating over $80 million solely on Bithumb, making up nearly 26% of the exchange’s spot trading volume. Shiba Inu recorded $77 million in combined volume, with a dominant $65.5 million from Upbit alone, where it was the most traded cryptocurrency.
Other notable altcoins include Pieverse at $41 million, XRP with $27.3 million, and Dogecoin reaching $23 million across both exchanges. The full list includes Perle, RE, Ondo, Morpho, Lagrange, Zama, Solstice, Worldcoin, and ETHGas, all seeing volumes exceeding $10 million.
Market Response and Context
This volume spike reflects growing local interest in select altcoins, especially those like DeXe that have experienced sharp price swings recently. The concentration of trade volume indicates that investors in South Korea are focusing their attention narrowly rather than diversifying widely.
The trend fits into a broader narrative of shifting activity on regional exchanges. For example, XRP holdings on Upbit recently hit a two-month low, suggesting some coins may be moving out of wallets while others see inflows. This creates an uneven landscape where volume and price movements can diverge significantly between assets.
