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Upbit SHIB volume jumps on kimchi premium, matches Binance

Upbit’s trading volume for Shiba Inu (SHIB) in the won market has risen to a level matching Binance’s spot volume, according to a blockchain media report. Upbit’s SHIB/KRW daily turnover was $5.29 million, outpacing other global exchanges such as OKX and Bybit. The surge coincided with signs of fund movements by a large Korean investor and internal wallet transfers by Upbit. A re-emerging “kimchi premium” also helped drive demand.