Trading Value
Turnover · Traded value · 24h volume (in money)
The total money value of all trades in a period, counted in won, which shows how much money actually changed hands in a coin.
Simple explanation
Background: Korean exchanges and investors rank coins by 거래대금, trading value in won, rather than by 거래량, the number of coins traded. Global sites call much the same figure "24h volume", and they almost always mean its value in dollars, not a coin count.
Trading value adds up price × quantity for every fill: 100 coins filled at ₩1,000 make ₩100,000 (about $71). Each fill has a buyer and a seller, but it is counted once, not twice. Volume in the Korean sense (거래량) is the number of coins traded, so think of value as money and volume as a count.
Coin prices differ hugely, so coin counts are useless for comparing coins. 100 million coins at ₩10 come to ₩1 billion (about $714,000), while just 50 bitcoin at ₩100 million make ₩5 billion (about $3.6 million). That is why Korean exchange lists and market news compare coins by trading value to see where the money went.
The figure depends on the period. "24-hour trading value" is the total for the last 24 hours counting back from now; "today's" value starts from the beginning of the trading day. Upbit's public API gives both, and its daily figure starts at 0:00 UTC, which is 9 a.m. in Korea. Each exchange, and each of its KRW, BTC and USDT markets, is counted separately.
A coin with high trading value usually has a thicker order book, so big orders move the price less and its price and premium are more dependable. A coin with little trading value can jump on a handful of orders, so a sudden premium or price change may not reflect the wider market. If trading value suddenly runs several times above normal, look for a listing, an investment warning, big news or short-term overheating; Korean exchanges also put short-term "caution" alerts on coins whose volume or price surges.
Market-wide trading value swings with the mood. On December 4, 2024, the day after martial law was declared late on December 3, Korea's five main exchanges reportedly traded over ₩51 trillion (about $37 billion) in one day, more than three times that day's combined trading value on the KOSPI and KOSDAQ stock markets (about ₩15 trillion). From July 1 to 21, 2026, by contrast, their average daily trading value was reportedly about ₩597.8 billion (about $427 million), only 1.59% of the KOSPI's, with Upbit (68.17%) and Bithumb (24.61%) together handling over 90% of it.
High trading value does not always mean real demand. People can trade back and forth among themselves, or use trading bots (APIs) to fire small market buys and sells over and over, so a coin looks busy. That can count as market manipulation under Korea's Virtual Asset User Protection Act, and in November 2025 the Financial Services Commission referred suspects who inflated volume this way to prosecutors. Do not chase a coin just because it tops the trading-value ranking; look at the price trend, the order book and the exchange notices too.
Trading value matters when you read the kimchi premium as well. A premium on a heavily traded coin means many people are actually trading at that price, so it says a lot about the market mood; a big premium on a barely traded coin may be a passing figure made by a few trades. That is why a market-wide premium gives more weight to coins with higher trading value.
CoinGaja's price tables cover the top 120 Binance-listed coins by Upbit 24-hour trading value, plus the coins inside that top 120 that Binance does not list (about 150 coins), and the list is redone every 10 minutes. The Kimchi premium by coin table has a 24-hour trading value column you can sort by. On the Price and premium heatmap, a tile's size is its share of 24-hour trading value and the number in its top-left corner is its trading-value rank; the combined Korean view adds up the four exchanges' trading value and averages price change and premium by it. The Kimchi Premium Index is weighted by Upbit 24-hour trading value, and the Whale Trade Radar shows single orders whose filled value reaches ₩5,000,000 (about $3,600) or more.
Example
Coin A's fills in a day: ₩1,000 × 10,000 coins · ₩1,100 × 20,000 · ₩1,050 × 10,000
Volume = 40,000 coins; trading value = ₩10,000,000 + ₩22,000,000 + ₩10,500,000 = ₩42,500,000 (about $30,400) → average price ₩42,500,000 ÷ 40,000 = ₩1,062.5
A fill is counted once: if A sells ₩1,000,000 (about $700) worth to B, trading value is ₩1,000,000, not ₩2,000,000
Coin B (₩10) trades 100 million coins → trading value ₩1 billion (about $714,000) / bitcoin (₩100 million) trades 50 → ₩5 billion (about $3.6 million)
By volume Coin B is 2 million times bigger; by trading value bitcoin is 5 times bigger
Buying 2,000 coins at ₩3,000 in one market order → filled value ₩6,000,000 (about $4,300) → above the Whale Trade Radar's ₩5,000,000 threshold
※ Example numbers, for illustration only
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