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COINTURK NEWS > Altcoin News > South Korean Crypto Enthusiasts Lead the Charge with XRP and Dogecoin Trades
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South Korean Crypto Enthusiasts Lead the Charge with XRP and Dogecoin Trades

In Brief

  • South Korean investors are increasingly taking risks with XRP and Dogecoin.

  • Their trading volumes have surpassed Bitcoin and Ethereum's in recent days.

  • Political and economic factors have contributed to this market movement.

İlayda Peker
İlayda Peker 1 month ago
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In South Korea, a notable increase in individual investors’ appetite for cryptocurrency risk has been observed. Recently, Ripple $2‘s XRP and Dogecoin $0.164893 (DOGE) have been drawing attention with high trading volumes in the region’s crypto exchanges. In the last 24 hours, the trading volume of these two altcoins is reported to have surpassed that of Bitcoin (BTC) $105,994 and Ethereum (ETH) $2,447.

Contents
Rising Trading Volumes and Price MovementsGlobal Developments and ImpactsPolitical and Economic Backdrop

Rising Trading Volumes and Price Movements

This trend is linked to an easing in U.S.-China trade tensions and strengthened expectations for short-term interest rate cuts globally. XRP and DOGE have seen price increases of over 15% in the past week, a level higher than Bitcoin’s performance. Additionally, Ethereum has surged by approximately 40% in the last week, marking its strongest weekly performance since 2021.

On UpBit, South Korea’s largest cryptocurrency exchange, the total 24-hour trading volume for XRP/KRW and DOGE/KRW pairs surpassed $250 million, whereas for Bitcoin and Ethereum, the figures remained below $150 million. This trend is reminiscent of periods dubbed the “Kimchi premium,” when individual investors showed intense interest in volatile assets.

Global Developments and Impacts

Experts suggest that this trend indicates a shift in the general risk appetite of Korean individual investors. The recent surge is linked to a significant “short squeeze” that occurred last week, where the closing of leveraged positions resulted in rapid price increases for cryptocurrencies.

Augustine Fan, Chief of Insights at SignalPlus, noted, “Risky assets have shown significant recovery in a short span. While macro-level positive expectations continue, further rises depend on whether investors exit their positions.”

Analysts believe that no notable impact is stemming from new product or investment fund entries; instead, the current wave is primarily due to changes in investor positions. There has been no significant increase in exchange-traded fund (ETF) entries related to Ether at present.

Political and Economic Backdrop

Global political developments are also behind this movement. The U.S. and China have mutually agreed to temporarily reduce tariffs on some goods from 145% to 30% for 90 days. This move is seen as a factor reducing investors’ concerns about cryptocurrencies.

Jeff Mei, COO of BTSE, stated, “Resolutions in the U.S.-China trade talks and expectations of possible interest rate cuts positively impact investors’ approach to cryptocurrencies. If the U.S. Federal Reserve signals a rate cut next month, it might lead Bitcoin to record levels and create new investment opportunities in the U.S. economy.”

In the short term, while investors maintain their expectations cautiously, especially speculative transactions in altcoins are considered the driving force behind the current rise. The roadmaps to be offered by central banks in the coming months and possible new investment tools are being closely monitored.

The South Korean crypto market stands out as an indicator providing insights into individual investor behaviors, reflecting global trends during volatile periods. The sustainability of this rapid market activity will be shaped by developments in the upcoming period.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 12 May, 2025 - 1:12 pm 12 May, 2025 - 1:12 pm
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