XRP Exchange Reserves Drop 2.2 Percent; Upbit Maintains Dominance Amid Market Volatility XRP reserves held by major exchanges Upbit, Bithumb, and Binance have declined by approximately 240 million since late May, according to tracking data. The combined reserves of the three platforms now stand at 10.84 billion XRP, representing a 2.2 percent decrease from their levels in late May and early June. Upbit remains the largest individual holder, with reserves of 6.4 billion XRP, while Bithumb and Binance hold 1.82 billion and 2.62 billion XRP, respectively. The total decline across the three exchanges highlights a gradual shift in XRP liquidity, though South Korean exchanges continue to dominate holdings. The decline in reserves varied among the exchanges. Upbit saw its holdings drop by 110 million, reducing its total to 6.4 billion XRP from 6.51 billion on May 30, a 1.7 percent decrease. Bithumb’s reserves fell by 30 million to 1.82 billion XRP, down from 1.85 billion on June 2. Binance experienced the steepest decline, losing 100 million XRP to 2.62 billion, a 3.7 percent drop from its May 30 level of 2.72 billion. Despite these reductions, Upbit’s dominance persists, as its holdings account for nearly 59 percent of the combined reserves of the three exchanges. Combined holdings at Upbit and Bithumb total approximately 8.22 billion XRP, representing 76 percent of the tracked reserves. This concentration underscores the continued reliance on South Korean exchanges for XRP liquidity. Analysts note that while exchange-held XRP has decreased, this does not necessarily indicate investor behavior. Amr Taha, a CryptoQuant contributor, emphasized that falling reserves could reflect shifts in funds between exchanges and personal wallets rather than a direct signal of accumulation or withdrawal.#south_korea #upbit #bithumb #xrp #binance
South Korea Markets See Trading Decline Amid Geopolitical Tensions The South Korean stock market experienced a significant decline as geopolitical tensions and economic pressures weighed on investor confidence. The KOSPI and KOSDAQ indices dropped by 44% and 34%, respectively, while cryptocurrency prices fell by 32% amid concerns over oil prices and the won-dollar exchange rate. The market’s liquidity has deteriorated as trading volumes and investment funds waiting to enter the market have both declined. According to data from the Korea Exchange and Koscom, the KOSPI’s transaction value fell to 21.8174 trillion won on March 17, marking a 44% drop from its peak the previous month. The KOSDAQ market also saw a 34% decline in transaction value, dropping from 19.5319 trillion won to 12.9339 trillion won. Investor deposits, which represent funds awaiting entry into the market, fell from a record high of 132.0682 trillion won to 117.8011 trillion won, a loss of over 10 trillion won. The virtual asset market also faced a sharp decline, with the daily average transaction value of South Korea’s major crypto exchanges, including Upbit and Bithumb, dropping from 4.39 trillion won to 2.982 trillion won, a 32% reduction. Foreign and institutional investors contributed to the market’s downward spiral, with foreign investors net-selling 14.3393 trillion won worth of KOSPI stocks and institutional investors recording net sales of 4.3027 trillion won. The financial investment sector, reflecting individual investors’ ETF trading, also saw net sales of 3.5346 trillion won. The decline in trading activity is attributed to heightened caution amid volatile oil prices and exchange rates. South Korea’s reliance on energy imports has made it vulnerable to surging oil prices, which exacerbate corporate profitability issues and inflationary pressures.#south_korea #kospi #kosdaq #upbit #bithumb
