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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/south-korea-sees-major-surge-in-crypto-trading-activity/" data-wpel-link="internal">South Korea Sees Major Surge in Crypto Trading Activity</a> 
South Korea reached a significant milestone in crypto trading last week. The trading volume of local cryptocurrency exchanges exceeded that of the country’s stock exchange, signaling an increased interest in cryptocurrencies among South Korean investors. According to the data, South Korean-based cryptocurrency exchanges recorded a trading volume of 12 trillion won, surpassing the stock exchange’s 11.47 trillion won on the last trading day of the week, March 10th. 
<h2 style="text-align: justify" id="strong-significant-increase-in-interest-towards-cryptocurrencies-strong">Significant Increase in Interest Towards Cryptocurrencies</h2> 
The current upward trend in <a href="https://en.coin-turk.com/bitcoin-bulls-take-charge-with-notable-price-surge/" data-wpel-link="internal">Bitcoin</a>‘s price has reignited a trading frenzy in South Korea, where last week local cryptocurrency exchanges saw trading volumes exceed those of the country’s stock exchange. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-325716" src="https://coin-turk.com/wp-content/uploads/2024/03/Yerel-Kripto-Para-Borsalari.jpeg" alt="" width="1622" height="586"> 
Data reveals that on March 10th, the trading volume in South Korea-based cryptocurrency exchanges reached 11.8 trillion won, leaving behind the stock market’s trading volume recorded on March 8th. The cumulative trading volume of South Korea’s five largest local cryptocurrency exchanges, including Upbit, Bithumb, Coinone, Gopax, and Coinone, was instrumental in reaching this milestone. 
Market observers attribute the increase in trading volume of cryptocurrencies to a rise in risk tolerance among South Korean investors, who prefer high-risk, high-return investments amidst a growing wealth gap. Particularly, altcoins are emerging as a preferred option over major assets like <a href="https://en.coin-turk.com/bitcoin-price-trends-over-the-years/" data-wpel-link="internal">BTC</a> or ETH, reflecting the evolving investment preferences of South Korean investors. 
<h2 style="text-align: justify" id="strong-kimchi-premium-at-its-highest-level-in-recent-years-strong">Kimchi Premium at Its Highest Level in Recent Years</h2> 
Despite trading at higher prices on South Korean cryptocurrency exchanges compared to global exchanges, Bitcoin, <a href="https://en.coin-turk.com/ethereum-critical-support-and-resistance-levels-continued-losses-in-eth-btc-pair/" data-wpel-link="internal">Ethereum</a>, and other cryptocurrencies face strong individual demand. The kimchi premium, which represents the price difference of Bitcoin between domestic and global exchanges, has been at its highest level since May 2022, indicating strong individual demand for some time. 
CryptoQuant research director Bradley Park noted that the high trading volume on Upbit since March is evidence of strong individual entry and further highlights the robust demand for cryptocurrencies among South Korean investors. It is well known that the kimchi premium offers a profitable arbitrage opportunity while showing that South Korean investors are willing to pay higher prices to purchase Bitcoin. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/south-korea-sees-major-surge-in-crypto-trading-activity/" data-wpel-link="internal">South Korea Sees Major Surge in Crypto Trading Activity</a></h5>

South Korea Sees Major Surge in Crypto Trading Activity

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