South Korea’s retail bitcoin trading topped $18 billion in 24 hours, outperforming the stock market by 22%. This big milestone demonstrates South Korean traders’ increased enthusiasm, particularly for high-momentum altcoins.
According to 10x Research, this trading frenzy resulted in the second-highest crypto trading volume of the year in South Korea. Ripple’s XRP was among the top-performing tokens, with an astounding $6.3 billion in trading volume, followed by Dogecoin ($1.6 billion), Stellar ($1.3 billion), Ethereum Name Service (ENS) ($900 million), and Hedera (HBAR) ($800 million).
These cryptocurrencies, sometimes known as “dino coins” by crypto aficionados, experienced spectacular weekly gains—XRP increased by 90%, ENS by 73%, and HBAR by an astounding 168%. Retail traders fueled this momentum, capitalizing on trends and increasing the appeal of these tokens.
Interestingly, Bitcoin’s funding rate has stayed relatively steady at 15% annually, indicating less speculative activity than the altcoin market. This discrepancy, together with rising interest in altcoins, suggests that the long-awaited “altseason” has begun.
Ripple’s XRP has been a star performer, rising from $0.50 to $2.80 in just one month, a staggering 436% rise. This increase has lifted XRP beyond big cryptocurrencies such as Solana and Tether, putting it as the third-largest cryptocurrency by market capitalization.
The exponential expansion of altcoin trading highlights the necessity for traders to build strong tactics for navigating these waves while remaining disciplined. As South Korea’s crypto economy evolves, the emphasis remains on the dynamic and fast-expanding altcoin sector.
