According to reports by South Korean cryptocurrency exchanges, there was a large spike in both retail and institutional crypto trading. CoinMarketCap too published data according to which the trading volume of major Korean exchanges like Coinone, Bithumb, Korbit, and UPbit surpassed the volume of the total stock trading in the country. The aforementioned exchanges passed the 14.6 billion USD mark, while the Korea Composite Stock Price Index (KOSPI) was measured at 14.5 billion US dollars.
That spike in crypto trading volumes occurred after major crypto assets surpassed pricing expectations recently. For example, Bitcoin rallied above 60k for the first time in its history. The total crypto market cap surpassed 1.8 trillion US dollars after that BTC price surge and the Asian crypto market is at an all-time high as well.
Source
All that said, local Korean cryptocurrency exchanges are under scrutiny from the authorities, since they wish to make sure that KYC compliance is enforced.
That spike in crypto trading volumes occurred after major crypto assets surpassed pricing expectations recently. For example, Bitcoin rallied above 60k for the first time in its history. The total crypto market cap surpassed 1.8 trillion US dollars after that BTC price surge and the Asian crypto market is at an all-time high as well.
Source
All that said, local Korean cryptocurrency exchanges are under scrutiny from the authorities, since they wish to make sure that KYC compliance is enforced.
