The strong rise in the cryptocurrency market, led by Bitcoin, has prompted South Korean investors to turn back to crypto assets.
Meanwhile, South Korea’s largest cryptocurrency exchange, Upbit, saw its trading volume increase by 273% in the last 24 hours, reaching $1.84 billion. This figure represents the highest daily volume the exchange has seen since mid-March.
The most traded cryptocurrency on Upbit was $XRP. $XRP’s trading volume in the last 24 hours was recorded at approximately $418.9 million, followed by Bitcoin (BTC), USDT, and Ethereum.
Trading volume on Bithumb, the country’s second-largest exchange, also increased by 132.9% to $934.9 million, with $XRP becoming the most traded cryptocurrency there as well.
Speaking to The Block, Presto Research researcher Min Jung stated that the bear market, which began in late 2025 and continued into 2026, drove South Korean investors away from the cryptocurrency market.
Jung noted that investors in South Korea have recently been primarily focusing on stocks, but the recent rise in Bitcoin has reignited interest in the cryptocurrency market.
In this context, Jung stated that if the upward trend continues, there could be even larger capital inflows from South Korea into the crypto market.
Jung concluded by saying that South Korean investors generally pursue returns rather than tying themselves to a single asset, and that they will show more interest in the crypto market if the Bitcoin-led rally continues, which could further strengthen the rally.
*This is not investment advice.
