Upbit has nearly matched Binance in SHIB trading volumes on the COINBASE:SHIBUSD market, even as overall activity declines. According to CoinGlass, Binance led with about $4.36 million, while Upbit reached about $4.25 million. The gap between the two exchanges stands at roughly $110,000.
A 35% drop in SHIB trading volume over the past 24 hours suggests that large traders have paused, elevating local exchanges in the market. Upbit’s liquidity near Binance’s highlights a concentrated level of interest in Asia. Market heat maps show a red-dominated landscape as traders remain cautious, and the price has stalled within a narrow corridor of $0.0000059-$0.0000060.
The center of gravity appears to be shifting toward Seoul, with the kimchi premium potentially signaling the next direction over the next 48 hours. With such low overall volume, even a single large trade on Upbit can move the price globally.
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