- Upbit, South Korea’s largest exchange, sees a surge in trading volume for the BCH/KRW pair.
- The BCH/KRW trading volume on Upbit exceeds that of the BTC/KRW pair by three times.
- South Korea’s market activity plays a significant role in driving the recent pump in Bitcoin Cash (BCH) price.
South Korea’s influence on the cryptocurrency market is once again evident, with Upbit, the country’s largest exchange, driving a surge in Bitcoin Cash (BCH) trading volume. In the past 24 hours, Upbit’s BCH/KRW trading pair has recorded a staggering trading volume of over $350 million, contributing to 23.58% of the total trading volume for BCH.
What makes this surge even more noteworthy is the comparison to the BTC/KRW pair on Upbit. The trading volume for BCH/KRW exceeds that of BTC/KRW by three times, indicating a significant shift in market activity towards Bitcoin Cash.
South Korea’s active participation in the BCH market has propelled the recent pump in Bitcoin Cash price. Traders and investors in the country are showing increased interest in Bitcoin Cash, leading to heightened trading activity and driving up its value.
The surge in trading volume on Upbit demonstrates the growing popularity of Bitcoin Cash among South Korean traders. The market’s response indicates a positive sentiment towards BCH, potentially attracting more investors and traders to participate in the Bitcoin Cash market.
In conclusion, South Korea’s Upbit has played a pivotal role in fueling the surge in Bitcoin Cash price. The record trading volume for the BCH/KRW pair on Upbit highlights the market’s growing interest in Bitcoin Cash, indicating a potential shift in sentiment and driving the cryptocurrency’s value higher.
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