Ripple (XRP), continues to be among the favorite altcoins of investors despite all the problems experienced. The latest trend reports reveal the high interest of South Korean investors in the asset. According to the data, Korean investors managed to place the asset in the first place in terms of trading volume this year.
According to Kaiko data, the growing popularity of XRP in four major exchanges, including Korean investors Coinbase, draws attention.
Kaiko data shows that XRP’s trading volume on the four largest exchanges in South Korea has risen to $16 billion since the start of the year. This figure represents more than three times the volume of Nano (XNO) and Dogecoin (DOGE), which took second and third places respectively. However, the total volume is also higher than the sum of the other three assets. The four largest exchanges in South Korea are UpBit, Bithumb, Coinone and GOPAX.
Koinfinans.com As we reported, XRP surpassed Bitcoin in trading volume on these exchanges last month. The asset has seen over half a billion dollars in 24-hour volume on UpBit alone. This increase in trading volume came just after the asset’s price rally that started on March 21. The rally had increased demand for the asset more than expected.
Moreover, in a previous report, Kaiko claimed that the XRP rally was largely driven by demand among Korean investors. WhaleStats data shows that the top 100 whales on the Binance Smart Chain hold more than 52.6 million XRP tokens with an estimated value of $26.87 million.
Data from CoinMetrics also revealed that the number of addresses holding at least 10,000 XRP tokens has more than doubled since the start of the SEC lawsuit, rising from under 120,000 in December 2020 to now over 260,000. Meanwhile, XRP is trading at $0.5168, up 0.22% in the last 24 hours, according to press time.
You can follow the current price action here.
Source : The Crypto Basic