a report of Markus Thielenfounder of 10x Research, showed that Retail cryptocurrency trading in South Korea has surpassed the country’s stock market trading by 22%.rising to 18 billion dollars in just one day.
Among the cryptocurrencies driving this momentum, Ripple’s XRP
XRP
$2.56
dominated activity, raising more than $6.3 billion in trading volume. Dogecoin
DOGE
$0.4066
followed with $1.6 billion, while Stellar
XLM
$0.5113
recorded 1.3 billion dollars.
btc
$95,246.01
continues to dominate, his financing rate—an indicator of perpetual futures trading activity—remained subdued at a modest annualized rate of 15%.
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The divergence between mild Bitcoin activity and the explosion of altcoin trading is what many call “peak season”according to Thielen. During such periods, Altcoins often outperform Bitcoin in price and volume growth..
He highlighted that South Korea Retail investors have played an important role in this trend.driving daily cryptocurrency trading volumes to high levels.
Thielen also warned that while the altcoin market offers great opportunities, requires a disciplined approach. He said: “The action is clearly in the altcoin market and everyone needs to have a strategy to catch these waves but still remain disciplined.”
As the South Korean cryptocurrency market surges, other regions are facing different financial challenges. In Brazil, a sudden drop in the Brazilian real has led to restricted withdrawals from stablecoins. What is behind these restrictions? Read the full story.
Having completed a master’s degree in Economics, Politics and Cultures of the East Asian region, Aaron has written scientific articles analyzing the differences between Western and collective forms of capitalism in the post-World War II era.
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