Korea’s crypto trading volume is surging. Why are these investors re

Korea’s crypto trading volume is surging. Why are these investors re-entering the market?

Upbit, South Korea’s primary crypto exchange, saw a 273% spike in trading volume as Korean investors re-entered the crypto space. Scott Melker outlines the details in the video above.

Now, going back to crypto volumes, we have an update to a story that I told you, I don’t know, all of like yesterday or the day before. Here you go. Remember I told you that the South Koreans weren’t trading anymore, crypto volumes were down massively. They’d gone to SK Hix and and Samsung and were using leverage leverage ETFs. Well, in the words of Poltergeist, they’re back. Up at trading volume spikes 273% in a day. Calm down.

A South Korean investors re-enter crypto. So up its daily volume surged 273% to 1.84 billion. Busiest day since March. Bit thumb hum hum thumb thumb, Bithumb. Volume jumped 133%. Now, interestingly, XRP was the most actively traded asset on both exchanges. We’ve seen this in South Korea many, many times. These guys love to speculate and they go love to go a little further down the risk curve than <a href="https://xpertsstudio.com/bitcoin-squeeze-returns-strategy-to-profit/” title=”Bitcoin Squeeze Returns Strategy to Profit”>Bitcoin to do it.

Last I checked, uh, you know, I I think XRP had been trading under a buck. It was pushing a dollar 40 at at one point today. So massive move there and you know, uh, when the South Koreans get on something, you’re going to see more volatility and more up and downside on an asset that they choose in the short term. But we talked about all the rotation.

Koreans spending, you know, spent the whole bare market chasing Samsung and SK Hix and leverage. Well, this is the first hint that the rotation is coming back. And this is something that we’ve been talking about over and over and over again on this show, other shows with every single guest. There’s a hot ball of money for speculation, right? And for years that was in crypto, specifically in Bitcoin, in alt coins.

Then with the with the proliferation of derivatives on perpetual swaps on hyperliquid on other assets, that hot ball of money was able to move. So you went crypto to gold and silver, to oil, to pre-IPO SpaceX and then all over the place. Now you can gamble on anything. You didn’t need to gamble on Bitcoin and alt coins. so they became a bit out of vogue. But we keep saying there will be a time when that hot ball of money returns to crypto.

I think that hot ball of money is now returning to crypto and this is the first indication that that might be true. We’re seeing it in ETFs, we’re seeing it in exchange volumes in the United States and we see it even compounded with exchange volume in South Korea.

Source: finance.yahoo.com