Upbit's weekly trading volume fell 15.5% to 8.35 trillion won, with XRP leading trades despite overall cooling in South Korea.
South Korea's dominant cryptocurrency platform Upbit saw its weekly trading volume decline by 15.5%, settling at 8.35 trillion won. During this period of reduced activity, XRP surpassed Bitcoin and USDT in trading, reflecting Korean traders' preference for that asset.
Thinner order books usually accompany lower volume, and that can make price movements more pronounced if big trades occur.
The metric of trading volume represents the aggregate worth of transactions on a platform within a given timeframe. Data from Upbit DataLab shows the exchange's weekly figure dropped to 8.35 trillion won, roughly $6.28 billion.
This downturn covers the week ending October 18, 2026, signaling a slowdown after stronger periods earlier in the fall.
A more notable detail lies in the aggregate data. According to CoinGecko, XRP ended the week as the most actively traded asset ahead of Bitcoin and stablecoin USDT. Korean retail investors have long preferred XRP on won-based pairs, a trend confirmed by the latest figures.
Although overall liquidity decreased, a large share of the remaining trades focused on XRP. Consequently, Bitcoin was second and USDT third.
The slowdown was not exclusive to Upbit. Broader data from leading South Korean platforms showed a steeper collective drop of nearly 20% the previous week. Against that backdrop, Upbit's 15.5% decline appears relatively moderate.
Daily snapshots showed Upbit's 24-hour volumes fluctuating between roughly $340 million and more than $1.2 billion. Those variations then settled into the calmer weekly total reported.
Lower overall volume typically means thinner order books can amplify price moves when larger orders hit the market. A single sizable order can trigger sharper swings when it meets thin markets. Therefore traders watching Upbit should consider the weekly total alongside daily data.
For those watching competitive landscape the DataLab numbers highlight a recurring theme.
On Upbit XRP often challenges or surpasses Bitcoin even though it ranks far lower by global market cap
Stablecoin volume remaining elevated also points to traders rotating between risk assets and dollar-pegged tokens as sentiment cooled. This shift keeps capital ready to move back.
Looking ahead market participants will monitor whether weekly volumes stabilize near the 8 35 trillion won level or continue to slide they will also watch whether XRP keeps its top ranking in the next reporting window.
Share to
Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
Chinese authorities seek to confiscate 62,000 bitcoins worth $5 billion from a fraudster who fled to the UK, following a UK High Court ruling that Chinese lawβ¦
Utexo has opened early access to its Mint platform for USDT on Bitcoin, with a public launch set for November 28. Professional operators can now test andβ¦
Bitcoin fell nearly 4% to as low as $81,331 on Thursday as oil prices above $110 revived expectations of Federal Reserve rate hikes.
Gate's Q3 2026 report shows September derivatives volume of $396 billion, a 38.2% month-over-month gain, ranking the exchange third globally.