Upbit’s Hourly Trading Volume Nears $847 Million as Crypto Volatility Spurs Surge

Forecast Trend Report by Period

Trading volume at South Korea’s cryptocurrency exchanges surged as a sharp rebound in the digital-asset market combined with abrupt price swings.

Wu Blockchain reported that major tokens briefly plunged around 2 p.m. on August 22, then showed heightened volatility. During that period, hourly trading volume on Upbit, South Korea’s largest cryptocurrency exchange, reached about 1.15 trillion won, or about $847 million.

Trading volume over the past 24 hours also climbed at the country’s major exchanges. Upbit recorded $3.818 billion, while Bithumb posted $1.954 billion. Coinone’s trading volume totaled $172 million.

Wu Blockchain said volumes jumped as trading sentiment among South Korea’s retail and institutional investors recovered quickly amid the market’s recent rally, with sharp intraday price moves adding to the increase.