Critical data on Upbit, one of the leading cryptocurrency exchanges in South Korea, attracted attention. The exchange has seen a significant decline in trading volume in the last 24 hours. According to CoinGecko data, the total trading volume on the exchange fell to US$8.064 billion, a 38.2% drop compared to the previous day. Despite this decline, the popularity and trading volume of certain cryptocurrencies continues to attract attention. In particular, Dogecoin, XRP and other popular cryptocurrencies are in the spotlight on Upbit. These coins have witnessed the biggest rises in terms of daily trading volume. Here are the details
Dogecoin, XRP and others continue to lead Upbit
XRP was the most traded cryptocurrency on the Korean Won (KRW) market on Upbit. The XRP/KRW trading pair came out on top, accounting for 12.15% of the total trading volume. The next four most traded cryptocurrencies after XRP are UXLINK, AGLD, MOCA and DOGE. Information on these coins is as follows:
- XRP: Developed by Ripple Labs, XRP is a crypto for fast and low-cost international money transfers. It aims to improve payment systems, especially between banks and financial institutions. Recently, the ecosystem has become popular again with the approval of Ripple’s stablecoin RLUSD. This has had a positive impact on XRP – the same seems to be the case in South Korea.
DOGE (Dogecoin): Originally an internet joke, Dogecoin has been around since 2014. Over time, the coin has become a popular cryptocurrency with a large community. We can say that meme coins have recently been resurrected.
- UXLINK: UXLINK represents a pioneering platform in the Web3 space focused on integrating social media dynamics with blockchain technology to foster a more interconnected and user-centered digital ecosystem
AGLD: Adventure Gold (AGLD) is an Ethereum token distributed via airdrop to holders of Loot Project NFTs. Loot is a project that generates randomized adventure hardware that forms the basis for on-chain stored games.
MOCA: MOCA has a stable supply of 8,888,888,888,888 tokens on the LayerZero v2 protocol. MOCA embodies the three pillars of Growth, Culture and Governance. It thus serves as a utility and governance token within the network.
South Korea is a critical country in the cryptocurrency space
South Korea is home to one of the most active and important cryptocurrency markets in the world. Cryptocurrencies are reportedly popular investments, especially among South Korea’s younger generations. In general, they see them as an alternative path to financial security due to the high youth unemployment rate, a way to feel more secure about their finances under political uncertainties, and because they are familiar with electronic payment systems.
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