As of September 28, 2025, Upbit's top trading pairs feature XPL/KRW, KAITO/KRW, and MIRA/KRW, with USDT and XRP strongly represented but not holding the top three positions.
The shift in Upbit's trading volume rankings showcases local interest in emerging tokens, highlighting speculative retail momentum in South Korea's dynamic cryptocurrency market.
Upbit, a prominent Korean exchange, reports top trading pairs as XPL, KAITO, and MIRA. Despite widespread use, USDT and XRP are not in the top three as of late September 2025.
The exchange is managed by Dunamu, with Lee Sirgoo as CEO. Lee Sirgoo, CEO, Dunamu (Upbit) - "Upbit continues to innovate in response to a dynamic market, as evidenced by the surge in trading activity for new pairs like XPL and KAITO." Although USDT remains essential, XLM is notably absent from the top five on Upbit.
The current trading activity highlights speculative behavior in altcoins and meme coins. This trend reflects a shift in investor focus within the Korean market.
Market dynamics show a drop in traditional large caps, with BTC and ETH yielding popularity to newer assets like XPL and MIRA.
Investors navigate a speculative landscape, impacting liquidity dynamics across crypto markets. This volatility presents unique challenges.
Historical patterns suggest such trading spikes in Korea often prompt regulatory scrutiny. The focus on retail speculation underscores significant market shifts, affecting longstanding cryptocurrency presence.