Bitcoin and Ether Aren’t the Top Traded Crypto’s on Binance Or the Biggest South Korean Exchange

DOGE is the one that is yet again leading the market, closing in on a $100 bln market cap, and is accounting for 41.55% of Upbit’s overall volume, which is also more than Coinbase Pro’s entire volume.


Yet again, DOGE has gone parabolic.

Hitting a new all-time high at nearly $0.69, DOGE is up over 140% in the past 7-days ahead of Tesla CEO and “Dogefather” Elon Musk’s appearance on SNL on May 8.

Dogecoin is currently the 4th largest crypto asset with a market cap of $85 billion.

The DOGE FOMO is getting real, which yet again ends up taking Robinhood down. “We’re currently experiencing issues with crypto trading,” said the retail trading app on Tuesday, yet again, before restoring the crypto trading an hour later.

Retail traders are all simply FOMOing in on the meme coin, as evident from the fact that Dogecoin is the most traded crypto asset on the leading cryptocurrency exchange Binance.

According to CoinGecko, DOGE/USDT on Binance is recording $14 billion in volume, accounting for 19.82% of the overall exchange volume. ETH/USDT and BTC/USDT account for only 7.74% and 6.42% of Binance's total volume, only to be followed by DOGE/BTC yet again at 3.78%. ETH -0.12% Ethereum / USD ETHUSD $ 2,391.37
-$2.87-0.12%
Volume 23.11 b Change -$2.87 Open $2,391.37 Circulating 116.28 m Market Cap 278.06 b
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BTC 3.95% Bitcoin / USD BTCUSD $ 36,927.15
$1,458.623.95%
Volume 32.52 b Change $1,458.62 Open $36,927.15 Circulating 18.73 m Market Cap 691.79 b
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Meanwhile, as per Binance owned Coinmarketcap, ETH/USDT derivatives are seeing the highest volume at $20.4 billion, followed by DOGE/USDT derivatives recording $19.4 billion in volume.

While BTC/USDT derivatives are the third most traded pair with a $19.4 billion volume, DOGE/USDT spot trading is yet again seeing $15.8 billion volume.

Just like the global users of Binance, South Koreans are all-in on DOGE as well. Dogecoin is accounting for 41.55% of all the volume on the largest cryptocurrency exchange of the country, Upbit.

Trading at a premium of 9.75%, DOGE/KRW is at $0.7077, down from a $0.7142 high earlier in the day.

Compared to Coinbase Pro’s $9.3 billion total volume, DOGE/KRW alone on Upbit did $14.3 billion in the past 24 hours.

As we previously reported, South Koreans have been more involved in altcoins than Bitcoin and Ether. And this continues with Ethereum Classic accounting for nearly 19% of all Upbit volume and the highest 20.69% on Bithumb.

XRP, BTT, EOS, LINK, and LTC are other popular altcoins on Korean exchanges. XRP 1.68% XRP / USD XRPUSD $ 0.85
$0.011.68%
Volume 2.6 b Change $0.01 Open $0.85 Circulating 46.19 b Market Cap 39.04 b
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BTT 5.17% Blocktrade Token / USD BTTUSD $ 0.00
$0.005.17%
Volume 0 Change $0.00 Open $0.00 Circulating 55.75 m Market Cap 231.49 K
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EOS 0.50% EOS / USD EOSUSD $ 4.85
$0.020.50%
Volume 1.11 b Change $0.02 Open $4.85 Circulating 954.22 m Market Cap 4.63 b
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LINK -0.98% Chainlink / USD LINKUSD $ 21.45
-$0.21-0.98%
Volume 980.94 m Change -$0.21 Open $21.45 Circulating 432.51 m Market Cap 9.28 b
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LTC 1.10% Litecoin / USD LTCUSD $ 163.37
$1.801.10%
Volume 1.85 b Change $1.80 Open $163.37 Circulating 66.75 m Market Cap 10.91 b
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