Upbit Trading Volume Surges 1663% as South Korean Stock Market Declines

KOSPI drops 4% while Upbit records $4.26B daily volume, a 1663% spike, as retail capital shifts from equities to crypto assets like Bitcoin and ETH.

Woofun AI data shows that the South Korean stock market experienced a sharp decline, with the KOSPI index falling 4.00% and SK Hynix dropping over 7% intraday. This equity downturn appears to be driving retail capital into the cryptocurrency sector.

Upbit, the largest centralized exchange in South Korea, reported a 24-hour trading volume of $4.26 billion, marking a 1663% increase. The most actively traded assets on the platform were Bitcoin, XRP, USDT, ETH, and XEC.