{"id":85138,"date":"2023-11-16T01:55:28","date_gmt":"2023-11-16T06:55:28","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/south-korean-traders-drive-recent-crypto-surge\/"},"modified":"2023-11-16T01:55:30","modified_gmt":"2023-11-16T06:55:30","slug":"south-korean-traders-drive-recent-crypto-surge","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=85138","title":{"rendered":"South Korean Traders Drive Recent Crypto Surge"},"content":{"rendered":"<div>\n<figure id=\"attachment_132082\" aria-describedby=\"caption-attachment-132082\" style=\"width: 1200px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-132082\" class=\"wp-caption-text\">Source: Pixabay<\/figcaption><\/figure>\n<p>Traders in Asia, especially in South Korea, have emerged as key drivers behind the recent rally in crypto market over the past two months.<\/p>\n<p>Data compiled by CCData reveals a substantial increase in the market share of South Korean-based exchanges, reaching 12.9% in November compared to 5.2% in January.<\/p>\n<p>This uptick coincides with a general rise in overall trading volume throughout October and November.<\/p>\n<h2>South Koreans Exchange Witness Massive Surge in Volume<\/h2>\n<p><span class=\"replacer\"><\/span><br \/>According to CCData communications manager Jamie Sly, South Korean exchanges, notably Upbit, have played a crucial role in the recent surge in trading activity on centralized exchanges in the East Asian country.<\/p>\n<p>The surge in the digital asset market, commencing from early October, is buoyed by growing optimism surrounding the potential authorization of U.S. exchange-traded funds to hold digital assets.<\/p>\n<p>Bitcoin has notably rallied almost 40% in the past month, with smaller tokens like Solana and Avalanche experiencing even more substantial surges.<\/p>\n<h2>South Korean Retail Investors Turn to Altcoins<\/h2>\n<p><span class=\"replacer\"><\/span><br \/>Analysts from the South Korea-founded blockchain data platform CryptoQuant point out that traders in South Korea are particularly responsible for the escalating trading volume of altcoins.<\/p>\n<p>CryptoQuant\u2019s Head of Marketing, Chung Hochan, attributes this phenomenon to the absence of a futures market for retail investors in South Korea.<\/p>\n<p>Retail investors in the country are finding substantial leverage opportunities in the crypto market, especially with altcoins, contributing to the notable expansion of the altcoin market compared to other investment assets.<\/p>\n<p>Despite the setback faced by the South Korean crypto community after the collapse of Terra in May 2022, the country remains a significant opportunity for many crypto firms, especially as regulatory pushback intensifies in the United States.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/south-korean-traders-drive-recent-crypto-surge.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Pixabay Traders in Asia, especially in South Korea, have emerged as key drivers behind the recent rally in crypto market over the past two months. Data compiled by CCData reveals a substantial increase in the market share of South Korean-based exchanges, reaching 12.9% in November compared to 5.2% in January. This uptick coincides with [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":85139,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-85138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>South Korean Traders Drive Recent Crypto Surge | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: Pixabay Traders in Asia, especially in South Korea, have emerged as key drivers behind the recent rally in crypto market over the past two months.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=85138\" \/>\n<meta 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