These Altcoins Are at the Center of the Action: 18 Billion Dollars Volume Generated in One Day - Coin Bulletin

The individual crypto trading volume in South Korea surged to $18 billion in 24 hours, leaving the local exchange volume behind by 22 percent. According to a report published by 10x Research, this volume reached the second highest level of the year.

According to the report, individual investors in South Korea are showing intense interest in high-momentum altcoins. Ripple's XRP coin leads with a trading volume of 6.3 billion dollars, while Dogecoin (DOGE) recorded 1.6 billion dollars, Stellar (XLM) 1.3 billion dollars, Ethereum Name Service (ENS) 900 million dollars, and Hedera (HBAR) 800 million dollars in volume.

The volume movement is also affecting prices. According to CoinGecko data, XRP has gained more than 80% in the last week and reached the highest level of the past year, rising to $2.81 in the past hours.

Investors are turning to altcoins

Markus Thielen, founder of 10x Research, stated that this situation mainly arises from individual investors focusing on momentum-driven trends.

Thielen also said that Bitcoin's annualized funding rate remained at 15%, indicating that individual investors are mostly turning to altcoins.

Thielen said, "Although Bitcoin's funding rate is quite calm, individual trading volume in South Korea has reached 18 billion dollars. Action, clearly, is needed to form a strategy to take advantage of these waves in the altcoin market."