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Tether-to-won trading pairs ranked among the top trading pairs on four of South Korea’s five major won-based exchanges over the past 24 hours, Etoday reported, citing CoinGecko data.
The pair accounted for 67.62% of total trading value on DigitalX, 21.06% on GOPAX, 12.27% on Coinone, and 11.08% on Bithumb. It ranked first on DigitalX and Bithumb, second on GOPAX, and third on Coinone. On Coinone, the won trading pair for another dollar-pegged stablecoin, USDC, ranked first with a 28.49% share of trading value.
Separately, South Korea’s Financial Intelligence Unit under the Financial Services Commission found that the domestic market’s average daily trading volume in the first half fell 44% from the second half of last year to 3.1 trillion won ($2.3 billion). Won-denominated deposits also dropped 35% to 5.2 trillion won ($3.8 billion) at the end of June from 8.1 trillion won ($5.9 billion) at the end of last year.