{"id":25346,"date":"2024-12-03T11:24:52","date_gmt":"2024-12-03T11:24:52","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=25346"},"modified":"2024-12-03T11:24:52","modified_gmt":"2024-12-03T11:24:52","slug":"crypto-trading-in-south-korea-surpasses-stock-market-with-18-billion-in-24-hour","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=25346","title":{"rendered":"Crypto Trading In South Korea Surpasses Stock Market With $18 Billion In 24 Hour"},"content":{"rendered":"

Retail crypto trading volumes in South Korea soared to $18 billion within 24 hours on December 2, surpassing the country\u2019s stock market by 22%, according to a <\/span>report from 10x Research<\/span><\/a>. <\/span><\/p>\n

Per the report, published 2 December 2024, this marks the second-highest crypto trading volume in the nation this year, fueled by a surge in activity around high-momentum altcoins.<\/span><\/p>\n

Ripple\u2019s XRP led the charge with $6.3 billion in trading volume, followed by Dogecoin (DOGE) at $1.6 billion, Stellar (XLM) at $1.3 billion, Ethereum Name Service (ENS) at $900 million, and Hedera (HBAR) at $800 million.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>What is \u2018Operation Kraken\u2019? Australian Authorities Crack Crypto Wallet And Seize $6.4 Million In Assets<\/span><\/a><\/strong><\/p>\n

XRP, ENS, And HBAR Outperform Other Cryptos<\/span><\/h2>\n

XRP, ENS, and HBAR\u2014referred to as \u201cdino coins\u201d for their longstanding presence in the market\u2014outperformed other cryptocurrencies. Over the past week, these tokens gained 90%, 73%, and 168%, respectively.<\/span><\/p>\n

\u201cThese high-momentum cryptocurrencies are being driven predominantly by retail traders, capitalizing on and reinforcing momentum-driven trends,\u201d Markus Thielen, founder of 10x Research, wrote.<\/span><\/p>\n

While altcoin activity surged, Bitcoin\u2019s funding rate, a metric for perpetual futures activity, remained relatively subdued at 15% annualized. Thielen pointed out that this divergence signifies the onset of an \u201calt season,\u201d where altcoins experience substantial trading and price growth. <\/span><\/p>\n

\u201cThe action is clearly in the altcoin market, and everyone needs a strategy to catch these waves while remaining disciplined,\u201d he added.<\/span><\/p>\n

Ripple\u2019s XRP has been a standout performer, climbing from $0.50 to a new yearly high of $2.80 on December 2. The rally propelled XRP past Solana (SOL) and Tether (USDT) in market capitalization, making it the third-largest cryptocurrency by total value.<\/span><\/p>\n

SOUTH KOREA\u2019S BOOMERS LEAD THE WAY FOR BITCOIN<\/p>\n

Forget trad banks \u2013 South Korea\u2019s pensioners are aping into crypto, flipping the script on what it means to be a degen. <\/p>\n

November saw \u20a916.17T ($11.5B) in stablecoin trades on exchanges like Upbit and Bithumb \u2013 7x growth since\u2026 pic.twitter.com\/PGig88Fy1z<\/a><\/p>\n

\u2014 Mario Nawfal\u2019s Roundtable (@RoundtableSpace) December 3, 2024<\/a><\/p>\n\n

Notably, crypto exchange volumes surged to a three-year high in November, driven by Donald Trump\u2019s re-election at the start of the month and rising optimism about potential crypto-friendly regulatory changes.<\/span><\/p>\n

Data from crypto market tracker New Hedge revealed that spot trading volumes <\/span>reached $2.9 trillion<\/span><\/a> in November, marking the highest level since May 2021.<\/span><\/p>\n

Furthermore, November was a historic month for Bitcoin exchange-traded funds (ETFs) in the United States, with investors pouring $6.4 billion into spot BTC ETFs.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>South Korean Authorities Uncover $232M Crypto Fraud, YouTube Star In Spotlight<\/span><\/a><\/strong><\/p>\n

South Korea Delays 20% Crypto Tax Again<\/span><\/h2>\n

South Korea has <\/span>once again postponed<\/span><\/a> the implementation of its 20% tax on cryptocurrency gains, marking the third delay since the tax was first proposed in 2021.<\/span><\/p>\n

The latest decision,\u00a0announced earlier this month, will push the tax implementation to 2025, following an agreement between the Democratic Party of Korea (DPK) and the ruling People Power Party (PPP) during budget negotiations.<\/span><\/p>\n

Initially planned for 1 January 2022, the tax has faced repeated postponements due to regulatory concerns and political debates.<\/span><\/p>\n

South Korea is home to one of the world\u2019s most active retail cryptocurrency markets, with exchanges like Upbit ranking among the top five global spot exchanges.\u00a0<\/span><\/p>\n

EXPLORE:\u00a0<\/span>Is It Possible to Get Free Crypto CATS? Here\u2019s The Best Way to Stack CATs in Q4<\/span><\/a><\/strong><\/p>\n

The post Crypto Trading In South Korea Surpasses Stock Market With $18 Billion In 24 Hour<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Retail crypto trading volumes in South Korea soared to $18 billion within 24 hours on December 2, surpassing the country\u2019s stock market by 22%, according to a report from 10x Research. Per the report, published 2 December 2024, this marks the second-highest crypto trading volume in the nation this year, fueled by a surge in […]<\/p>\n","protected":false},"author":0,"featured_media":25347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-25346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/25346"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25346"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/25346\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/25347"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}