South Korean crypto exchanges have surpassed Bitcoin in XRP trading volume this week. According to data tracked by CoinGecko, XRP accounted for 40% of the trading volume of Upbit, the largest exchange in South Korea, and more than 35% of the trading volume of Bithumb and Korbit. Earlier this week, XRP more than doubled the number of unpositioned squaring contracts tracking futures and tended to move in a bullish direction. On Friday, business returned to normal.
According to Bradley Park, a Web3 analyst at Crypto Quant, XRP is reported daily in the Korean media and mentioned by influencers, and trading volume is concentrated on XRP. Additionally, Ripple Labs CEO Brad Garlinghouse said in an interview with Bloomberg TV on Wednesday that he expects the legal dispute between the Securities Exchange Commission (SEC) and Ripple to be resolved soon.
Data: XRP trading volume accounts for 40% of Upbit trading volume from Tuesday to Thursday.
2024-07-19 11:06:19
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