Upbit’s Trading Volume Surges 45% Led by ETH, XRP, PROVE

Upbit’s daily trading volume increased by more than 45% on August 10, primarily featuring ETH, XRP, and PROVE, driven by market sentiment and regulatory clarity in South Korea.

The surge illustrates proactive trading behaviors spurred by regulatory announcements, impacting global cryptocurrency markets and spotlighting Upbit’s influence in digital asset exchanges.

Upbit, South Korea’s largest cryptocurrency exchange, experienced a significant uptick in daily trading volume, rising over 45% on August 10, 2025. ETH, XRP, and PROVE emerged as the top three traded assets on the platform, with activity bolstered by evolving regulatory conditions and robust market sentiment across both individual and institutional sectors.

Market Performance and Implications

Key figures included a 31,000% surge in PROVE’s 24-hour volume, alongside XRP achieving $1.09 billion in trading volume on Upbit alone. Importantly, PROVE token’s trading presence grew markedly, comprising 18.1% of Upbit’s July 2025 total, indicating a pronounced interest that spans local and international markets. Despite record volumes, no direct statements have surfaced from Upbit executives or PROVE’s team on their official communication channels regarding this development.

The increase in trading generated a variety of impacts, affecting total value locked (TVL) and liquidity metrics on the exchange. PROVE token’s exchange holdings reduced by 34%, which suggests a transition towards direct custody and a potential trend of longer-term investments. Discussion among market observers, including X Finance Bull, affirms Upbit’s significant role in the global XRP market, coinciding with XRP’s newly defined regulatory status.

“South Korea just flipped the switch on $XRP.” — X Finance Bull, Market Commentator

Potential implications suggest that the ongoing changes could extend into financial realms, possibly affecting asset managers like Grayscale, which actively engages with regulated products and newly listed tokens. The spike in interest for these assets raises possibilities for continued regulatory adjustments and technological evolution regarding exchange operations. As stakeholders monitor market dynamics, it remains critical to track further institutional engagements and any subsequent regulatory and technological announcements.