Following the announcement of Ripple’s legal victory, the XRP price experienced a significant rise on Upbit, South Korea’s largest cryptocurrency exchange. Market analysts and experts noted that this surge is a direct result of the positive sentiment surrounding Ripple’s legal victory. Investors have regained their confidence in the future prospects of XRP, increasing its demand and value. In South Korea, apart from XRP, coins such as 1INCH also drew attention. Here are the details…
South Koreans focus on 1INCH and these
According to data from Upbit, XRP has dominated the trading activity on the exchange, reaching a staggering $628.7 million in just the last 24 hours. This remarkable figure has solidified XRP’s position as the most traded cryptocurrency on Upbit during this period, accounting for 31.51% of the total market share. However, XRP wasn’t the only altcoin to be successful on Upbit amid market volatility. Other cryptocurrencies also performed strongly, revealing the dynamic nature of the crypto asset world. FirmaChain (FCT2), 1inch Network (1INCH), Ark (ARK), and ThunderCore (TT) emerged as top contenders in terms of throughput. It maintained its place in the top five in the stock market.
Interestingly, Bitcoin (BTC), the largest cryptocurrency by market cap, experienced relative stability on Upbit during this period. Bitcoin’s price remained around $30,665, while the crypto asset ranked sixth on the exchange with a trading volume of $59 million, representing 2.96% of the market share. Meanwhile, Solana (SOL) took the seventh spot with trading volume approaching $50 million. Just behind it, Alpha Quark Token (AQT) is in eighth place with $49 million, eCash (XEC) is in ninth place with $44 million, and Bitcoin Cash (BCH) is in tenth place with $43 million.
What does the change in Upbit’s volume indicate?
The rise in altcoin trading volume on Upbit marks a shift in investor sentiment as investors diversify their portfolios beyond Bitcoin. This trend highlights the growing interest and trust in alternative cryptoassets that offer unique features and use cases. As the cryptocurrency market continues to evolve, investors and enthusiasts will follow these developments closely, looking for opportunities and assessing the long-term potential of various crypto assets. With Ripple’s legal victory giving momentum to XRP and the altcoin market gaining traction, the crypto world remains as dynamic and engaging as ever.
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