South Korean cryptocurrency trading volume surpasses the stock market! Bitcoin kimchi premium exceeds 100 million won

This site (120btC.coM): The price of Bitcoin rose again today (11th), reaching a maximum of 71,831 US dollars, once again hitting a record high. It is worth mentioning that South Korea’s On the cryptocurrency exchange Upbit, the price of Korean won against Bitcoin has exceeded the 100 million won mark, a premium of 7.5% on the global market.

KRW/Bitcoin Trading Pair

South Korean Cryptocurrency Trading Volume Surpasses Stock Market

South Korean Cryptocurrency Trading Volumes As Bitcoin Price Continues to Climb The total trading volume of currency exchanges has exceeded the trading volume of the local stock market, triggering the phenomenon of "crazy currency speculation" by the entire population.

According to local media reports, South Korea’s major cryptocurrency exchanges achieved a staggering trading volume on Sunday, reaching 11.8 trillion won (approximately $9 billion). This figure far exceeds the 11.47 trillion won (approximately US$8.7 billion) in trading volume on the South Korean stock market on Friday. This shows that Koreans’ enthusiasm for cryptocurrencies is at a high level.

The exchanges that hit new highs this time mainly cover the five largest cryptocurrency trading platforms in the Korean won market, including: Upbit (trading volume up to 8.8 trillion won), Bithumb (2.7 trillion won), Coinone (1764 billion won), Gopax (55.2 billion won) and Korbit (32 billion won). These exchanges occupy an important position in the South Korean cryptocurrency market, attracting a large number of investors and trading activity. This record highlights the activity and growth momentum of South Korea’s cryptocurrency trading market, and also reflects people’s continued attention and investment enthusiasm for cryptocurrency. The constant growth of these exchanges

Korean exchange 24hr cryptocurrency trading volume

Crypto Quant founder: Koreans love high risks

In response to this phenomenon, Ki Young-Ju, founder of Crypto Quant, analyzed, "Korean people prefer high-risk and high-return investment strategies, which is related to the rapid economic growth they have experienced." He further explained that as the gap between rich and poor increases, More and more people are turning to cryptocurrency investments, especially altcoins, because they are more attractive compared to mainstream assets such as Bitcoin (BTC) or Ethereum (ETH).

On the other hand, Bradley Park, director of research at Crypto Quant, pointed out that even though the trading prices of Bitcoin, Ethereum and other tokens on Korean exchanges are higher than those in the global market, the trading volume is still very high, indicating that the retail market Demand is strong.

He also mentioned the "kimchi premium," the phenomenon in which cryptocurrency prices on Korean exchanges are higher than the international average price, which has reached its highest point since May 2022. Park explained that this is often seen as a sign of strong retail demand, as Korean investors are willing to pay a higher premium for cryptocurrencies such as Bitcoin.

The above is the detailed content of South Korean cryptocurrency trading volume surpasses the stock market! Bitcoin kimchi premium exceeds 100 million won. For more information, please follow other related articles on the PHP Chinese website!