Koreans trade differently to the rest of the world, market data shows.
Traders are attracted to the high-profit potential associated with altcoins and accept the high risks.
The number of crypto investors in the country hit about 6 million, or 10% of the population, this year, according to a Korea Financial Intelligence Unit survey, the report said."The majority of these investors are primarily engaged in investment activities centered around centralized exchanges, making the influence of centralized exchanges in the Korean crypto market significant."worldwide have seen declines in trading volume as bitcoin traded sideways.
"The majority of individual investors on Upbit show strong interest in altcoins with high-profit potential and tend to accept the associated high risks. This is considered one of the reasons for the high proportion of altcoin trading in the Korean market," DeSpread wrote., boast large trading volumes worldwide. However, within Upbit, their trading volume shows surprisingly low levels," the report reads.
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