Why South Korea’s Crypto Market Belongs to Altcoins

Every season is an altseason in South Korea. Altcoins comprise 93% of all crypto trades in South Korea. Bitcoin dominance experienced a sharp drop since November. Cryptoquant CEO Ki Young Ju says South Korea is a region where every season is altcoin season. In a recent post on X, the crypto analyst showed that altcoins make up 93% of all cryptocurrency trades in South Korea, leaving Bitcoin with only 4% and other digital assets with the remaining 3%. South Korea: The world’s second-largest crypto market, where 93% of trades are altcoins and only 4% are #Bitcoin . Every season is alt season. pic.twitter.com/HMjFGFY22a — Ki Young Ju (@ki_young_ju) December 6, 2024 Ju backed up his post with data from Upbit and Coinbase. Upbit is the leading cryptocurrency exchange in South Korea, while Coinbase is a renowned global exchange headquartered in the U.S. The Cryptoquant CEO looked at data between January 1, 2023, and December 1, 2024. Notably, the two years show the extent of altcoin domination on the Upbit crypto exchange. Ju’s post showed that altcoins were more dominant in 2023, making up nearly the entire cryptocurrency volume traded within the region. In … The post Why South Korea’s Crypto Market Belongs to Altcoins appeared first on Coin Edition .

Source: Coin Edition