Upbit, Bithumb trading volumes surge as Korean stocks fall

Trading volumes on South Korean exchanges Upbit and Bithumb have surged over the past 24 hours, increasing by 634.3% and 352.4% respectively from the previous day, according to data from CoinGecko. Upbit's current 24-hour volume stands at approximately 6.41 trillion won ($4.64 billion), while Bithumb's is at 1.12 trillion won ($811 million). Some in the crypto community speculate that the spike is linked to a decline in the South Korean stock market on July 13.