XRP dominates the market share in trade volume across South Koreas four largest exchanges.

XRP trade volume across the top South Korean crypto exchanges has recently seen a massive surge. The asset currently dominates the market share in Koreas four largest exchanges, comfortably overtaking Bitcoin (BTC). This development underscores renewed demand for the XRP, as South Korean traders look to leverage its latest rally.

Data from price-tracking resource CoinMarketCap indicates that XRP has overtaken BTC in trade volume dominance on UpBit, Bithumb, Coinone, and Korbit, all among South Koreas top five cryptocurrency exchanges.

XRP is witnessing a 24-hour trade volume of $569.2 million on UpBit, Koreas largest exchange. This volume represents 17.03% of UpBits trade volume in the past 24 hours. In contrast, Bitcoin sees a 24-hour volume of $188.6 million, accounting for 5.64% of total trade volume.

Moreover, XRPs trade volume on Bithumb currently stands at $137.9 million at the time of writing, representing 34.05% of the exchanges total trade volume. On the other hand, Bitcoins trade volume amounts to $71.1 million, representing 17.57% market share. Bithumb is South Koreas second-largest exchange.

Coinone, the third largest exchange in Korea, is also seeing a dominance of XRP in its trade volume, as the asset boasts a volume of $35.9 million, accounting for 42.08% of its volume in the past 24 hours. XRPs trade volume on Coinone is more than double of Bitcoins volume, which stands at $16.4 million.

XRPs dominance also spilled into Korbit, Koreas fifth-largest exchange. The asset currently commands 38.02% of Korbits total 24-hour trade volume. The assets volume stands at $2.8 million. BTC follows closely behind in market share, with 36.99%. All volumes are taken from trades against the Korean won (KRW).

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Despite a 1.71% decline in the past 24 hours, XRPs rally endures, as the asset has maintained a 22.34% gain in the past week. This positions XRP as the highest gainer among the top 100 assets by market cap.

The asset reclaimed the much-coveted $0.55 zone yesterday for the first time in ten months. It towered over the territory, reaching a high of $0.579 before facing a roadblock. XRP is trading for $0.5412, with a new goal to reclaim the $0.60 price level.

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Read more from the original source:

XRP Overtakes Bitcoin in Volume on Top 4 Korean Exchanges - The Crypto Basic