2024

Uniswap

Bitcoin ETF

Impact

<h2 class="wp-block-heading" id="rising-to-the-top-south-korea-s-currency-dominates-crypto-trading">Rising to the Top: South Korea’s Currency Dominates Crypto Trading</h2> 
<p>According to a recent report by the research firm <a href="https://twitter.com/KaikoData/status/1779887479673462793" target="_blank" rel="noopener">Kaiko</a>, transactions involving the Korean won on centralized cryptocurrency exchanges reached $456 billion in the first quarter of 2024. This figure slightly edged out the $445 billion traded in dollars during the same period.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;">Competition on Korean markets is heating up. In this week's Data Debrief, we explore:<br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;">The fee war in South Korea<br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;">The market reaction to Uniswap Labs Wells Notice<br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;">Coinbase's growing dominance<br><br>and more….<a href="https://t.co/pVQvJfZIlS" target="_blank">https://t.co/pVQvJfZIlS</a></p>— Kaiko (@KaikoData) <a href="https://twitter.com/KaikoData/status/1779887479673462793?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">April 15, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="aggressive-competition-fuels-growth">Aggressive Competition Fuels Growth</h2> 
<p>The shift in trading dominance is partially attributed to <a href="https://btc-pulse.com/concerns-raised-over-chinas-us-bitcoin-mining/">aggressive </a>competition among South Korean <a href="https://btc-pulse.com/hong-kong-crypto-exchanges-regulatory-hurdles/">exchanges</a>. Notably, smaller platforms like Bithumb and Korbit have implemented zero-fee trading offers to divert market share from Upbit, which currently leads the market with over 80% control of spot trading volumes.</p> 
<h2 class="wp-block-heading" id="preference-for-altcoins">Preference for Altcoins</h2> 
<p>Market insights from Bloomberg suggest that South Korean traders prefer smaller, more speculative digital currencies, known as altcoins, rather than the more established cryptocurrencies such as <a href="https://btc-pulse.com/european-nations-lead-google-bitcoin-halving-crypto/">Bitcoin </a>and Ether. These two altcoins represent over 80% of the country’s trading activity.</p> 
<h2 class="wp-block-heading" id="political-impact-and-regulatory-changes">Political Impact and Regulatory Changes</h2> 
<p>The intense interest in cryptocurrencies has also influenced political discourse in South Korea. In the recent parliamentary elections, <a href="https://btc-pulse.com/fijis-central-bank-issues-stark-crypto-investments/">crypto </a>regulation became a significant topic, with candidates proposing policies to postpone taxes on digital assets and ease restrictions on U.S. Bitcoin ETF investments to attract younger voters.</p> 
<p>Following the $40 billion downfall of the TerraUSD stablecoin, developed by Do Kwon, South Korean regulatory bodies have announced plans to introduce more stringent rules to <a href="https://btc-pulse.com/binance-us-enhances-board-chief-martin-grant/">enhance </a>investor protection, set to take effect in July. Despite ongoing regulatory moves, the country’s crypto adoption has been growing. One of the leading exchanges, Crypto.com, recently announced its plans to launch services for retail traders in the country.</p> 
<p>This seismic shift in the crypto trading landscape highlights not only the financial savvy of South Korean traders but also the broader market dynamics that influence global cryptocurrency flows.</p>

South Korean Won Overtakes US Dollar in Global Crypto Trading

Inhaltsverzeichnis

BTC-Pulse

Weitere Artikel, die am 16. Apr. 2024 veröffentlicht wurden

Top Trending Crypto Retik Finance (RETIK) Joins Solana (SOL) and Dogecoin (DOGE) Among Most-Promi...

Bitcoin Price Restarts Decline, Can BTC Bulls Protect $60K?

Key Levels to Watch in Bitcoin Cash Price Movements

Cardano (ADA) Price Plummets Over 5% in 24 Hours Amid Bearish Signals

Crypto Analyst Signals Bitcoin Correction Amid Stumbling Rally; Intel and Nvidia Unveil China-Foc...

Segment introduces Lumen Money

Abonniere unseren kostenlosen Newsletter und erhalte tägliche Krypto-Updates!