South Korean Crypto Traders Return as Upbit Volume Explodes 273%

South Korean traders are returning to crypto as Bitcoin climbed to a three-month high of $79,500. Upbit’s 24-hour trading volume jumped 273% to $1.84 billion, while Bithumb’s volume rose 132.9%. 

The sharp rise suggests Korean investors may be moving money back into crypto after months of weaker trading activity.

Upbit and Bithumb Traders Lead the Korean Trading Surge

South Korea’s largest crypto exchange, Upbit, saw its 24-hour trading volume jump 273% to $1.84 billion. This rally marks the highest single-day trading volume for Upbit since mid-March. 

Completely outperforming global volume trends over the same trailing 24-hour window.

Simultaneously, Bithumb, the country’s second-largest exchange, also saw strong growth, with trading volume rising 132.9% to $934.9 million. Together, the two exchanges handled nearly $3 billion in KRW trading volume over 24 hours.

The move also comes as the global crypto market has recovered. The total crypto market cap is now around $2.65 trillion.

Why Are Korean Traders Coming Back?

The recent surge may be linked to a shift in where Korean traders are putting their money. Earlier this year, strong gains in the KOSPI, Samsung and SK Hynix drew more investors toward stocks, while crypto trading slowed.