A report by Markus Thielen, founder of 10x Research, showed that retail cryptocurrency trading in South Korea has surpassed the country’s stock market trading by 22%, soaring to $18 billion in just one day.
Among the cryptocurrencies driving this momentum, Ripple’s XRP
Interestingly, while Bitcoin
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The divergence between Bitcoin’s mild activity and the explosion of altcoin trading is what many are calling “altseason”, according to Thielen. During such periods, altcoins often outperform Bitcoin in price and volume growth.
He emphasized that South Korean retail investors have played a big role in this trend, driving daily crypto trade volumes to high levels.
Thielen also cautioned that while the altcoin market offers great opportunities, it demands a disciplined approach. He said, “The action is clearly in the altcoin market and everybody needs to have a strategy to catch these waves but still remain disciplined”.
As South Korea’s crypto market surges, other regions are grappling with different financial challenges. In Brazil, a sudden drop in the Brazilian Real has led to restricted stablecoin withdrawals. What’s behind these restrictions? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
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