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
$2.54
dominated the activity, raking over $6.3 billion in trading volume. Dogecoin
$0.4126
followed with $1.6 billion, while Stellar
$0.5084
recorded $1.3 billion.
Interestingly, while Bitcoin
$95,428.79
continues to dominate, its funding rate—an indicator of perpetual futures trading activity—remained subdued at a modest 15% annualized rate.
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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.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
