According to Wu's report, citing data from CryptoQuant via the Korean media Pulse, in November 2024, the monthly total trading volume of stablecoins from South Korea's top five CEXs—Upbit, Bithumb, Coinone, Korbit, and GOPAX—was approximately 16.17 trillion won (1.15 billion USD). This figure includes the total trading volume of stablecoins such as Tether (USDT) and USDC issued by Circle, and it has increased sevenfold from about 2 trillion won recorded at the beginning of the year. This marks the first time that South Korea's monthly stablecoin trading volume has exceeded 10 trillion won. Additionally, as of Monday, the 24-hour trading volume in South Korea's domestic virtual asset market was 23 trillion won, accounting for 9.05% of the global total of 262 trillion won.

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