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Upbit Weekly Crypto Volume Falls 15.5% as XRP Leads Trading

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XRPUSD$1.31 0.25%

South Korean cryptocurrency exchange Upbit recorded a 15.5% drop in weekly trading volume to 8.35 trillion won (approximately $6.28 billion) for the week ending October 18, 2026. Despite the overall slowdown, XRP (XRPUSD) surpassed both Bitcoin and Tether (USDT) to become the most traded digital asset on the platform. Daily transaction volumes ranged between $340 million and over $1.2 billion during mid-October.

The decrease at Upbit follows broader market cooling across South Korea, where major trading platforms experienced a 19.56% decline in volume in a preceding week. Upbit maintained its position as the country's dominant exchange ahead of competitors like Bithumb. Strong activity in USDT, a US dollar-pegged stablecoin, highlighted traders shifting capital between riskier assets and cash equivalents.

Thinner order books resulting from lower trading volumes can increase price volatility when large buy or sell orders execute. Market participants will watch whether Upbit's trading activity stabilizes around current levels or continues to contract, and whether XRP retains its leading position over Bitcoin.

Key points

  • Upbit weekly crypto volume fell 15.5% to 8.35 trillion won ($6.28 billion) for the week ending October 18, 2026.
  • XRP was the most traded asset on the platform, outpacing both Bitcoin and Tether (USDT).
  • Daily trading volume on the South Korean exchange ranged between $340 million and over $1.2 billion in mid-October.
  • Broader South Korean crypto exchange volume dropped 19.56% in a preceding week.
  • Reduced trading volume creates thinner order books, raising price sensitivity to large orders.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

What was Upbit weekly crypto trading volume?

Upbit reported weekly crypto trading volume of 8.35 trillion won, or roughly $6.28 billion, for the week ending October 18, 2026.

Which crypto asset was most traded on Upbit?

XRP was the most traded cryptocurrency on Upbit for the week, surpassing both Bitcoin and Tether (USDT).

Why is lower trading volume significant for investors?

Lower trading volume thins out exchange order books and reduces liquidity, which can make prices more sensitive to large trades.