According to CoinGecko data reported by COINOTAG on January 16, Upbit has recorded a remarkable trading volume of $8.321 billion over the past 24 hours. This volume underscores Upbit’s position as a leading player in the cryptocurrency market, particularly in South Korea. Notably, the XRP/KRW trading pair dominated, contributing a substantial 40.74% to the overall figures, thus establishing itself as the most actively traded asset in the Korean won market. Other significant cryptocurrencies that ranked amongst the top five by trading volume included XLM, BTC, DOGE, and SBD, reflecting diverse investor interests. As trading activity intensifies, market participants remain focused on regulatory developments and their potential impacts on liquidity and trading strategies.