{"id":33158,"date":"2024-12-03T12:00:07","date_gmt":"2024-12-03T09:00:07","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=33158"},"modified":"2024-12-03T10:24:30","modified_gmt":"2024-12-03T07:24:30","slug":"south-koreas-crypto-trading-surpassing-local-stock-market-volume","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/south-koreas-crypto-trading-surpassing-local-stock-market-volume\/","title":{"rendered":"South Korea&#8217;s Crypto Trading, Surpassing Local Stock Market Volume"},"content":{"rendered":"<p>Retail cryptocurrency trading volume in South Korea surged to an impressive <strong>$18 billion<\/strong> within the past 24 hours, outpacing the country&#8217;s entire stock market by <strong>22%<\/strong>, according to a report published by <strong>10x Research<\/strong> on December 2. This marked the second-highest trading volume recorded this year.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/south-koreas-crypto-trading-surpassing-local-stock-market-volume\/#Interest_in_%E2%80%9CHigh-Momentum%E2%80%9D_Altcoins_Spikes\" title=\"Interest in &#8220;High-Momentum&#8221; Altcoins Spikes\">Interest in &#8220;High-Momentum&#8221; Altcoins Spikes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/south-koreas-crypto-trading-surpassing-local-stock-market-volume\/#XRPs_Historic_Rally_Continues\" title=\"XRP\u2019s Historic Rally Continues\">XRP\u2019s Historic Rally Continues<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Interest_in_%E2%80%9CHigh-Momentum%E2%80%9D_Altcoins_Spikes\"><\/span>Interest in &#8220;High-Momentum&#8221; Altcoins Spikes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Markus Thielen, the founder of 10x Research, noted that South Korean traders have been heavily engaging with <strong>high-momentum tokens<\/strong> such as <strong>XRP, DOGE, ENS, and HBAR<\/strong>. According to the report, <strong>Ripple&#8217;s XRP token<\/strong> led the trading frenzy with a staggering <strong>$6.3 billion<\/strong> in volume. It was followed by <strong>Dogecoin ($1.6 billion)<\/strong>, <strong>Stellar ($1.3 billion)<\/strong>, <strong>Ethereum Name Service ($900 million)<\/strong>, and <strong>Hedera ($800 million)<\/strong>.<\/p>\n<p>Thielen stated:<\/p>\n<p><em>&#8220;These high-momentum cryptocurrencies are being driven predominantly by retail traders, capitalizing on and reinforcing momentum-driven trends.&#8221;<\/em><\/p>\n<p>XRP, ENS, and HBAR, often referred to as &#8220;dino coins&#8221; due to their longstanding presence in the crypto market, significantly outperformed other tokens last week. These assets recorded impressive gains of <strong>90%, 73%, and 168%<\/strong>, respectively.<\/p>\n<p>Additionally, the report highlighted that <strong>Bitcoin&#8217;s funding rates<\/strong> remained &#8220;relatively mild,&#8221; sitting at <strong>15% annually<\/strong> during this period.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2024-12\/01938b03-5e6f-7213-bee1-71ee33592f33\" alt=\"south korea\" width=\"975\" height=\"479\" \/><\/p>\n<p>With the noticeable uptick in altcoin trading activity, Thielen suggested that an <strong>&#8220;altcoin season&#8221;<\/strong> is already in motion:<\/p>\n<p><em>&#8220;We are witnessing one of the largest divergences between Bitcoin&#8217;s relatively mild 15% annual funding rate and South Korea&#8217;s retail trading volumes surging to $18 billion. The action is clearly in the altcoin market, and everyone needs a strategy to catch these waves while remaining disciplined.&#8221;<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"XRPs_Historic_Rally_Continues\"><\/span>XRP\u2019s Historic Rally Continues<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ripple\u2019s XRP token has been on a historic run, skyrocketing <strong>436%<\/strong> over the past month and hitting a new yearly high of <strong>$2.80<\/strong> on December 2, according to TradingView data. This surge propelled XRP past <strong>Solana<\/strong> and <strong>Tether<\/strong> in market capitalization, making it the <strong>third-largest cryptocurrency<\/strong> at the time of writing.<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Retail cryptocurrency trading volume in South Korea surged to an impressive $18 billion within the past 24 hours, outpacing the country&#8217;s entire stock market by 22%, according to a report published by 10x Research on December 2. This marked the second-highest trading volume recorded this year. Interest in &#8220;High-Momentum&#8221; Altcoins Spikes Markus Thielen, the founder<\/p>\n","protected":false},"author":28,"featured_media":31887,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,10,657,11,2],"tags":[7690,8878,61,717,5760,68,622,942,2232,1999,506],"class_list":["post-33158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-economy-news","category-en","category-exchange-news","category-news","tag-altcoin-rally","tag-altcoin-season","tag-bitcoin","tag-crypto-trading","tag-digital-assets","tag-dogecoin","tag-ethereum-name-service","tag-hedera","tag-market-volume","tag-south-korea","tag-xrp"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>South Korea&#039;s Crypto Trading, Surpassing Local Stock Market Volume - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/south-koreas-crypto-trading-surpassing-local-stock-market-volume\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Korea&#039;s Crypto Trading, Surpassing Local Stock Market Volume - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Retail cryptocurrency trading volume in South Korea surged to an impressive $18 billion within the past 24 hours, outpacing the country&#8217;s entire stock market by 22%, according to a report published by 10x Research on December 2. 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