Odaily Planet Daily News - Recently, trading activity in the South Korean cryptocurrency market has surged, with massive trading volumes and widespread participation in the South Korean cryptocurrency market causing the Korean Won (KRW) trading volume to surpass that of the US Dollar in the first quarter of 2024. South Korea's largest cryptocurrency exchange, Upbit, accounts for over 70% of the country's trading volume. Recently, the country's cryptocurrency trading volume has seen significant growth again. On Upbit, trading volume has increased by over 100% in the past seven days, with DOGE and XRP being the largest contributors, while XLM and SAND also played a role. In the fourth quarter, the trading volumes for DOGE and XRP were $58.2 billion and $38.6 billion respectively, far exceeding Bitcoin's trading volume of $30.1 billion. Additionally, as of November 25, the 24-hour trading volume for the SAND/KRW trading pair on Upbit was $1.6 billion, accounting for 13% of the exchange's total trading volume of $11.9 billion. On Bithumb, XRP dominated with a trading volume of $433.9 million, accounting for 14% of the total trading volume. A fourth-quarter report from Tiger Research indicated that approximately 15% of the South Korean population (a total of 7.78 million people) actively participates in trading on South Korean exchanges. Historically, young people in South Korea have been keen on investing in cryptocurrencies, viewing it as a sustainable way to accumulate wealth in a country with high unemployment rates. A survey by South Korean recruitment portal Samarin HR found that 49.8% of workers aged 30 to 39 have invested in cryptocurrencies, and 37.1% of workers in their 20s have followed suit. (Bitcoin.com)

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