Upbit logs $840M hourly volume as crypto sell-off fuels trading surge

BitcoinWorld Upbit logs $840M hourly volume as crypto sell-off fuels trading surge Upbit, South Korea’s largest cryptocurrency exchange, recorded approximately 1.15 trillion won ($840 million) in trading volume within a single hour as the crypto market plunged and volatility spiked.

The surge occurred around 5:00 a.m. UTC today, when major cryptocurrencies, including Bitcoin, briefly tumbled before showing elevated price swings, prompting a sharp increase in trading activity among South Korean investors.

Exchange-wide volume spike Over the past 24 hours, trading volume on Upbit reached an estimated 5.29 trillion won ($3.86 billion), while Bithumb, another major South Korean exchange, saw 2.71 trillion won ($1.98 billion) in trades.

Coinone, a smaller platform, logged 240 billion won ($175 million) during the same period. These figures highlight the intense retail participation that characterizes South Korea’s crypto market, where local exchanges often see outsized activity during periods of high volatility.