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<p>Retail crypto trading in South Korea reached a staggering $18 billion in the last 24 hours, eclipsing the country’s stock market trading volume by 22%. </p> 
<p>This marks the second-highest daily crypto trading volume of the year, driven by surging interest in high-momentum altcoins.</p> 
<h3 class="wp-block-heading" id="h-altcoins-dominate-trading-activity">Altcoins Dominate Trading Activity</h3> 
<p>Ripple’s XRP token led the frenzy, generating over $6.3 billion in trading volume, followed by Dogecoin (DOGE) at $1.6 billion and Stellar (XLM) at $1.3 billion. </p> 
<p>Other notable altcoins, including Ethereum Name Service (ENS) and Hedera (HBAR), saw volumes of $900 million and $800 million, respectively.</p> 
<p>“These high-momentum cryptocurrencies are being driven predominantly by retail traders, capitalizing on and reinforcing momentum-driven trends,” said Markus Thielen, founder of 10x Research.</p> 
<p>The report highlighted the exceptional performance of older tokens, often referred to as “dino coins” by crypto enthusiasts. XRP, ENS, and HBAR have posted weekly gains of 90%, 73%, and 168%, respectively, outpacing much of the broader market.</p> 
<h3 class="wp-block-heading" id="h-signs-of-an-altseason">Signs of an “Altseason”</h3> 
<p>Thielen also pointed to a relatively mild Bitcoin funding rate of 15% annualized, suggesting subdued leveraged activity for Bitcoin while altcoins take center stage. He identified the current surge in altcoin trading volumes as a clear indication that an “altseason” is underway.</p> 
<p>“We are seeing one of the largest divergences recorded between a relatively mild Bitcoin funding rate and skyrocketing retail trading volumes in Korea,” Thielen noted. He advised investors to adopt disciplined strategies to navigate these market waves.</p> 
<h3 class="wp-block-heading" id="h-xrp-s-historic-rally">XRP’s Historic Rally</h3> 
<p>Ripple’s XRP has been a standout performer, climbing from $0.50 to a yearly high of $2.80 in just one month, representing a 436% increase, according to Cointelegraph. This impressive rally has catapulted XRP into the third spot in global cryptocurrency rankings by market capitalization, surpassing both Solana (SOL) and Tether (USDT).</p> 
<p>It is also worth noting that South Korean lawmakers have <a href="https://www.unlock-bc.com/133558/south-korea-delays-crypto-capital-gains-tax-to-2027/">approved a delay in implementing a capital gains tax </a>on digital assets until January 2027. The government initially proposed a two-year delay, while the ruling People Power Party suggested a three-year postponement. However, the Democratic Party opposed both proposals and instead advocated for increased tax exemptions on cryptocurrency profits.</p> 
<p>The post <a href="https://www.unlock-bc.com/133601/south-koreas-crypto-trading-smashes-stock-market-records/">South Korea’s Crypto Trading Smashes Stock Market Records</a> appeared first on <a href="https://www.unlock-bc.com">UNLOCK Blockchain</a>.</p>

South Korea’s Crypto Trading Smashes Stock Market Records

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