Upbit volume hits 1.15 trillion won during flash crash

South Korean crypto exchange Upbit processed an estimated 1.15 trillion won, or approximately $830 million, during one hour of volatile trading on Aug. 22. Summary Upbit processed an estimated 1.15 trillion won during the volatile hour beginning 05:00 UTC Saturday. Twenty-four-hour Upbit volume reached $3.818 billion, according to data cited by Wu Blockchain during volatility. XRP generated 32.20% of Upbit volume, ahead of TRUMP at 10.93% and Tether at 8.39%. CoinGlass data showed $523 million liquidated within one hour, including $448 million from long positions. Upbit’s volume rebound followed a 273% daily increase to approximately $1.84 billion on August 21. The volume spike occurred around 05:00 UTC, when Bitcoin, XRP and other major cryptocurrencies recorded abrupt downward price wicks before recovering part of their losses. The resulting liquidations and rapid repositioning drove spot activity higher across South Korea’s largest exchanges. Upbit volume accelerated during the flash crash Upbit’s rolling 24-hour volume reached approximately $3.818 billion during the volatility, according to the figures published on X. Bithumb recorded about $1.954 billion, while Coinone process...