BlockBeats news, on December 3, according to the latest report released by 10X Research, there has been a significant change in trading activity since Trump's election. Although there are still seven weeks until his inauguration, early appointments have already indicated a major shift towards crypto-friendly policies in the U.S. We expect this trend to continue and potentially expand trading opportunities.
Governments in other countries, especially South Korea, are also taking a more favorable stance towards cryptocurrencies. With the U.S. trend towards formulating cryptocurrency regulations (or relaxing regulations), it is expected that the globe will follow suit, ushering in a widespread crypto-friendly atmosphere. Alpha tokens among smaller cryptocurrencies may continue to grow.
Retail trading volume in the South Korean cryptocurrency market surged to 18 billion dollars in the past 24 hours, marking the second-highest trading volume of the year, surpassing the local stock market's trading volume of 14 billion dollars. Ripple (XRP) ranks first with a trading volume of 6.3 billion dollars, followed by DOGE (1.6 billion dollars), XLM (1.3 billion dollars), ENS (900 million dollars), HBAR (800 million dollars), and SHIB (600 million dollars). These highly volatile cryptocurrencies are primarily driven by retail traders, leveraging and reinforcing momentum-based trends.
We see that the funding rate for Bitcoin is relatively moderate, annualized at 15%, while retail trading volume in South Korea has surged to 18 billion dollars, marking a historic record in the difference between them. Clearly, the current market focus is on altcoins.
