On December 2, the daily cryptocurrency trading volume among retail traders in South Korea reached $18 billion, 22% higher than the country’s stock market turnover of $14 billion.

The most popular cryptocurrency of the day was XRP from Ripple, with a trading volume of $6.3 billion. Dogecoin came in second with $1.6 billion, followed by Stellar with $1.3 billion. This surge is largely driven by retail crypto traders' excitement amid the market’s growth.

Currently, about 15% of South Korea’s population (7.78 million people) trade digital assets. In Q1 2024, cryptocurrency transactions involving Korean traders and investors outpaced those in US dollars. During Q2 and Q3, South Korea ranked second, surpassing the euro and yen.

Selwix analysts note that about 70% of all transactions occurred on the Korean cryptocurrency exchange Upbit. While Bitcoin was the most popular trading instrument in the first three quarters, by year’s end, XRP and DOGE had overtaken the digital gold.

These rising trends in interest towards altcoins amid a strong bull market are global. This makes it a perfect time for investing and profiting, and Selwix can help you seize this opportunity.
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