DOGE and XRP Dominate as Korean Crypto Trading Volumes Soar
South Korea’s cryptocurrency market is surging, with trading volumes skyrocketing across major exchanges like Upbit, which accounts for 70% of the market activity.
Popular tokens like DOGE and XRP are leading the charge, with Q4 volumes hitting $58.2 billion and $38.6 billion, respectively, far surpassing Bitcoin’s $30.1 billion. Notably, SAND saw its first major upswing in three years, contributing $1.6 billion in 24-hour trading volume on Upbit.
The “Kimchi Premium,” a unique price gap between domestic and international exchanges, reflects South Korea’s strong retail interest and the high volatility of its crypto market. This activity showcases the nation’s robust investor sentiment and potential for shaping global crypto trends.
Clever Robot News Desk 26th November 2024
