Crypto Craze in South Korea: Bitcoin Surpasses Stock Market Volumes!

In a notable turn of events, cryptocurrency trading volumes on South Korea-based exchanges have outpaced those of the local stock market, spurred by the surge in Bitcoin prices. On Sunday, trading volumes on these exchanges reached a staggering 12 trillion won, surpassing Friday's stock market tally of 11.47 trillion won. This surge in crypto trading activity is indicative of a growing trend among Korean investors, who are increasingly favouring high-risk, high-return investments, particularly altcoins, over major assets like BTC or ETH. Despite the higher markup on Korean exchanges compared to global counterparts, retail demand remains robust, with investors willing to pay a premium for Bitcoin, as evidenced by the ongoing "kimchi premium." The sustained high trading volumes on platforms like Upbit further underscore the influx of retail investors into the crypto market.