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 was elected. Although there are still seven weeks until the inauguration, early appointments have already shown that the U.S. government will undergo a significant shift toward crypto-friendly policies. We expect this trend to continue and potentially expand trading opportunities.
Governments in other countries, especially South Korea, are also adopting a more favorable stance toward cryptocurrencies. As the U.S. moves towards establishing cryptocurrency regulations (or easing regulations), it is expected that the world will follow this trend, leading to the popularization of a 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 in the past 24 hours, marking the second highest trading volume this year and surpassing the local stock market's $14 billion trading volume. Ripple (XRP) ranked first with a trading volume of $6.3 billion, followed by DOGE ($1.6 billion), XLM ($1.3 billion), ENS ($900 million), HBAR ($800 million), and SHIB ($600 million). These highly volatile cryptocurrencies are primarily driven by retail traders, utilizing and reinforcing momentum-based trends.
We see that the funding rate of Bitcoin is relatively mild, annualized at 15%, while retail trading volume in South Korea has soared to $18 billion, creating a historical record for the difference. Clearly, the current market focus is on altcoins.
