Upbit processes $830 million in volume in one hour during flash crash

The South Korean crypto exchange Upbit processed a trading volume of 1.15 trillion KRW, roughly $830 million, in just one hour on Friday. That happened during a sudden flash crash on the crypto market, in which major coins fell sharply before the market descended into heavy volatility. The peak coincided with a broad revival of trading sentiment among Korean investors.

In short:

• Upbit recorded 1.15 trillion KRW (~$830 million) in trading volume within a single hour during a flash crash.
• 24-hour volumes on major South Korean exchanges rose sharply: Upbit $3.8 billion, Bithumb $1.95 billion and Coinone $172 million.
• The high volume reflects a strong recovery in trading sentiment among Korean retail and institutional investors.

Flash crash drives up volume on Upbit

At around 07:00 Dutch time on Saturday 22 August 2026, the crypto market suddenly turned. Major coins made a sharp downward move, after which the market entered a period of high volatility. It was precisely during that hour that trading volume on Upbit surged to 1.15 trillion KRW.

Upbit is the largest crypto exchange in South Korea. A volume of this magnitude in a single hour points to a wave of transactions driven by panic, liquidations or repositioning. The crypto market had already shown a strong rally in the run-up to the crash, which had significantly boosted trading sentiment among both retail and institutional investors in the country.

South Korean exchanges show high 24-hour volumes

Volumes were also notably high over a longer period. Upbit recorded $3,818 billion in trading volume in 24 hours. Bithumb, the second-largest exchange in South Korea, reached $1,954 billion. Coinone, a smaller player, processed $172 million.

These figures show that the recent rally on the crypto market has clearly influenced trading behaviour in South Korea. Korean investors are known for their active participation in the crypto market, and the combination of a strong advance followed by an abrupt decline typically causes spikes in volume.