CoinVoice has recently learned that, according to South Korean media Pulse citing CryptoQuant data, in November 2024, the total monthly trading volume of stablecoins for 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 also increased sevenfold compared to the approximately 2 trillion won recorded at the beginning of the year. This is also the first time that South Korea's monthly stablecoin trading volume exceeded 10 trillion won.
Furthermore, as of Monday, the 24-hour trading volume of the domestic virtual asset market in South Korea was 23 trillion won, accounting for 9.05% of the global total of 262 trillion won. Analysts pointed out that the surge in stablecoin trading may be related to South Korean cryptocurrency investors transferring their assets overseas. [Original link]