South Korea’s 24-hour cryptocurrency trading volume surges, accounting for 9.05% of the global total

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ODAILY
2 days ago
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Odaily Planet Daily Report: Against the backdrop of tightening domestic regulations, delayed reforms, and the thriving global cryptocurrency market, Korean cryptocurrency investors are transferring their assets overseas. CryptoQuant data shows that in November 2024, the monthly total trading volume of stablecoins on the top five CEXs (Upbit, Bithumb, Coinone, Korbit, and GOPAX) in Korea was around 16.17 trillion won (USD 115 billion). This figure includes the total buying and selling of stablecoins such as USDT and USDC, a sevenfold increase from the around 2 trillion won at the beginning of the year. This is also the first time the monthly stablecoin trading volume in Korea has exceeded 10 trillion won. In the past few months, the stablecoin trading volume has surged, doubling from 5.45 trillion won in September 2024 to 9.56 trillion won a month later. As of Monday, the 24-hour trading volume in the Korean virtual asset market was 23 trillion won, accounting for 9.05% of the global total of 262 trillion won. (Pulse)

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