Upbit Trading Volume Surges 273% to $1.84 Billion on Crypto Rally

South Korea's largest cryptocurrency exchange, Upbit, recorded a dramatic surge in trading activity on August 21, 2026, with its 24-hour volume jumping 273% to approximately $1.84 billion, its highest level since mid-March. The spike, mirrored by rival exchange Bithumb, signals a renewed wave of retail investor interest in digital assets following a sharp Bitcoin rally.

The surge in trading volume coincided with a significant rebound in Bitcoin's price, which climbed over 8% in the past 24 hours to trade above $78,000. According to data from CoinGecko, the broader cryptocurrency market also gained approximately 7.2% over the same period. The rally appears to have been catalyzed by a U.S. Treasury Department announcement on August 19 to expand its debt buyback program, a move markets interpreted as supportive for liquidity.

On Upbit, XRP was the most-traded cryptocurrency, accounting for $418.9 million in transactions, followed by Bitcoin, USDT, and Ether. Bithumb, South Korea's second-largest exchange, saw its daily volume climb 132.9% to about $934.9 million, with XRP also leading its trading activity.

The return of high-volume trading marks a notable shift for the South Korean...