According to a recently published report by DeSpread Research, South Koreans emerge as the most active participants in the world of altcoin trading. The report highlights the significant trading volume seen on local cryptocurrency exchanges, which positions South Korea ahead of its global rivals.
South Korea’s investment in altcoin projects
The report shows that South Korea has become a major hub for crypto enthusiasts. It also shows that nearly 6 million crypto investors were registered this year. This figure accounts for approximately 10% of the country’s population, according to data from the Korea Financial Intelligence Unit (KoFIU) survey.
This increase in crypto adoption and investment coincides with a broader trend. Following the stagnation in Bitcoin’s price, global centralized exchanges have experienced a decline in trading volume since March. In particular, UPbit, South Korea’s largest cryptocurrency exchange, draws attention at this point. It has managed to outperform global giant Binance in trading volume since July.
South Korea’s cryptocurrency preferences
Unlike the overall global crypto market, South Korean investors exhibited a unique trading pattern. Assets such as Bitcoin, Ethereum (ETH), Polygon (MATIC), and altcoin Avalanche (AVAX) are gaining popularity in global trading. On the other hand, this has shown that South Koreans prefer certain altcoins. Below are the altcoins that attract the attention of South Korean investors.
South Koreans particularly include LOOM, XEC and FLOW among their altcoin projects. On the other hand, STX, BSV and KAVA are also popular. Additionally, when we look at Kriptokoin.com, ZIL, KLAY, CRO and IOTa are among the important projects.
What do investments mean?
With South Korean traders focusing their attention on these altcoins, the cryptocurrency world is also looking at the projects. Accordingly, these digital assets may experience significant growth during the next bull run. The unique market dynamics in South Korea certainly attract attention. The increasing country orientation towards crypto currencies also provides opportunities for projects to grow. Thus, investors start to move towards other projects.
This trend in the country inevitably provides interesting opportunities for altcoin projects. On the other hand, investors around the world are watching South Korea. It will also monitor these assets closely as they develop in response to local demand. As the global crypto landscape continues to evolve, South Korea’s altcoin adoption is notable. On the other hand, its impact on crypto trading remains an important factor to consider.
To be informed about the latest developments, follow us Twitter’in,Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.