Upbit weekly volume falls 20.8% to 6.7 trillion won as XRP tops trading
In brief
- Upbit weekly volume fell 20.8% to 6.7 trillion won for the week ending November 8.
- Upbit volume dropped 15.5% to 8.35 trillion won in the week ending October 18, per Crypto Briefing.
- XRP ranked first in trading activity, with Bitcoin second and USDT third.
- Unnamed research links the swings to broader market conditions, not Upbit specifically.
A second weekly drop since mid-October
This isn't the first pullback. Crypto Briefing reported that in the week ending October 18, 2026, Upbit's volume fell 15.5% to 8.35 trillion won. Between mid-October and early November, weekly turnover went from 8.35 trillion won to 6.7 trillion won, per the outlet.
Daily numbers moved around a lot. Volume on the exchange ranged from about $340 million to more than $1.2 billion during the period (according to the same report). The research behind those figures doesn't read this as a clean slide. It describes the run as repeated fluctuations rather than a straight decline, and it ties the activity to broader market conditions, not to anything specific to Upbit.
XRP holds the top spot
XRP ranked first in weekly trading activity, with Bitcoin second and USDT third, Crypto Briefing said. The research describes XRP as consistently ranking at the top on Upbit and credits strong local retail interest in XRP within KRW-denominated trading pairs. It also found that XRP took the largest share of activity during slower trading periods.
Why would a quieter market favor one token? The research raises the possibility that XRP may be acting as a protective hedge for traders who want local favorites that hold their momentum.
That's the research's interpretation, not a measured result.
Reading the USDT number
USDT's third-place finish fits what the research calls active rotation among traders, with some appearing to move capital into steadier assets during the pullback. It's a plausible read of the ranking, but it's still one source's framing.
The same research suggests the drop in Upbit volume could reflect fading investor confidence or more risk-averse behavior as macroeconomic pressures build. Crypto Briefing didn't identify who produced the research, so readers can't check the methodology behind any of these explanations.
What's on firmer ground are the reported figures themselves: 6.7 trillion won in the latest week, 8.35 trillion won in the week ending October 18, and an XRP, Bitcoin, USDT ordering at the top of the exchange's activity table.
Frequently asked questions
Why did Upbit's weekly trading volume fall?
Crypto Briefing, citing research it didn't name, said the research ties the recent activity to broader market conditions, not to Upbit specifically. The research suggests the drop could reflect fading investor confidence or more risk-averse behavior as macroeconomic pressures build. Those are the research's interpretations, not confirmed causes.
Why does XRP lead trading on Upbit?
The cited research describes XRP as consistently ranking at the top on Upbit and credits strong local retail interest in XRP within KRW-denominated trading pairs. It also found XRP took the largest share of activity during slower trading periods, and it raised the possibility that XRP acts as a protective hedge for traders.
