Korea's crypto trading volume is surging. Why are these investors re-entering the market?

00:00 Speaker A

Now, going back to crypto volumes, we have an update to a story that I told you, I don't know, all of like yesterday or the day before. Here you go. Remember I told you that the South Koreans weren't trading anymore, crypto volumes were down massively. They'd gone to SK Hix and and Samsung and were using leverage leverage ETFs. Well, in the words of Poltergeist, they're back. Up at trading volume spikes 273% in a day. Calm down.

00:21 Speaker A

A South Korean investors re-enter crypto. So up its daily volume surged 273% to 1.84 billion. Busiest day since March. Bit thumb hum hum thumb thumb, Bithumb. Volume jumped 133%. Now, interestingly, XRP was the most actively traded asset on both exchanges. We've seen this in South Korea many, many times. These guys love to speculate and they go love to go a little further down the risk curve than Bitcoin to do it.

00:43 Speaker A

Last I checked, uh, you know, I I think XRP had been trading under a buck. It was pushing a dollar 40 at at one point today. So massive move there and you know, uh, when the South Koreans get on something, you're going to see more volatility and more up and downside on an asset that they choose in the short term. But we talked about all the rotation.