- Upbit recorded 1.15 trillion won in one-hour trading volume after a sharp crypto market flash crash on August 22.
- XRP led Upbit’s 24-hour trading activity with 32.20%, followed by TRUMP at 10.93% and USDT at 8.39%.
- South Korea’s major exchanges saw stronger trading as Upbit, Bithumb, and Coinone recorded elevated volumes during the selloff.
South Korea’s Upbit recorded 1.15 trillion won, about $830 million, in one-hour trading volume on August 22, 2026. The spike came around 05:00 UTC after a sharp flash crash hit major cryptocurrencies. XRP and TRUMP led activity as trading surged across South Korea’s largest cryptocurrency exchanges.
XRP And TRUMP Lead Upbit Trading
According to Upbit Datalab, XRP accounted for 32.20% of Upbit’s 24-hour trading volume. TRUMP followed with 10.93%, while USDT ranked third at 8.39%. Ethereum and Bitcoin completed the top five, contributing 5.44% and 5.40%, respectively.
Meanwhile, Upbit’s 24-hour volume reached about $3.818 billion. The hourly surge followed a wider market selloff at 05:00 UTC. Major assets dropped quickly before prices entered heavy volatility.
That move pushed traders toward XRP and TRUMP, which recorded the largest shares of Upbit activity. Notably, the exchange’s daily volume had already climbed the previous day.
Upbit Volume Jumps 273% In One Day
On August 21, Upbit’s daily trading volume jumped 273% to about $1.84 billion. That figure marked the exchange’s highest daily volume since mid-March. XRP again ranked first, generating $418.9 million in volume during that session.
Bitcoin, USDT, and Ethereum followed XRP among the most traded assets. Bithumb also recorded stronger activity on August 21. Its daily volume increased 132.9% to approximately $934.9 million.
The increase continued into August 22, when South Korea’s major exchanges posted elevated trading volumes. Bithumb recorded $1.954 billion, while Coinone reached $172 million.
South Korean Exchanges See Higher Activity
The latest figures came after several months of weaker trading activity across South Korea’s crypto market. During that period, domestic equities drew more attention as the KOSPI reached record highs.
The KOSPI rise followed demand for AI-related semiconductor stocks. However, Upbit and Bithumb both reported operating revenue declines of nearly 50% during the first half of 2026.
The August 22 flash crash then brought heavier trading to Upbit, with XRP and TRUMP accounting for large portions of activity. The exchange’s one-hour volume reached 1.15 trillion won during that period.
