Upbit Beats Coinbase and OKX in Monthly Spot Trading Volume!

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Upbit, a South Korean-based cryptocurrency exchange, has surpassed leading exchanges Coinbase and OKX in terms of spot trading volume for the first time. According to data published by CCData, Upbit’s spot trading volume rose by 42.3% in July, reaching $29.8 billion. This puts Upbit ahead of popular exchanges such as Coinbase, which saw a spot trading volume of $28.3 billion in July, and OKX, which saw a volume of $18.9 billion. The growth of South Korea’s cryptocurrency market could be attributed to the country’s increasingly favorable regulations on digital assets.