In October and November, South Korean traders were highly active in the cryptocurrency market, accounting for a significant portion of spot transactions globally.
According to CryptoQuant, the local market’s share of spot transactions increased to 12.8% in October and November, a significant increase from 5.2% in January.
This switch to spot platforms was mainly due to limited access to the crypto futures market for investors in South Korea. Retail users were particularly active in November.
In addition to South Korea, other Asian countries also saw a surge in crypto investment during this period, driven by the rising value of Bitcoin and altcoins.
Notably, the top cryptocurrencies in terms of attracting capital were Solana (SOL), Chainlink (LINK), and XRP, which have shown significant price growth since mid-autumn.