This stands out as a significant development in the cryptocurrency market, as while traditional exchange volumes were expected to come to the fore, cryptocurrency trading showed strong growth during this period.

Crypto trading activity in South Korea has outpaced foreign fund inflows on the exchange. According to Bloomberg reports, foreign funds worth 539.6 billion won (about $385 million) entered the South Korean stock market on December 2.

However, in the cryptocurrency market, this figure reached a much higher volume and the total trading volume increased to 18 billion dollars, exceeding the foreign inflow into the stock market by 22%.

10x Research states that behind this increase, old and popular tokens such as Hedera (HBAR), Dogecoin (DOGE), Stellar (XLM) and Ripple (XRP) stand out. The fact that these tokens are followed with interest by retail investors has become one of the main factors that increased the crypto trading volume.

In addition, significant foreign fund inflows were also recorded in the South Korean stock market. The largest foreign fund inflow of the last three months was seen in the Kospi Index on December 2. Global funds purchased $385 million worth of shares in the Kospi Index, allowing the index to increase by 1.9% after a decline that lasted the last two days.

Seo Sang-young, strategist from Mirae Asset Securities Co., stated that these fund inflows were due to economic indicators in the USA, and especially the entry of the ISM manufacturing new orders index into the expansion zone, which again increased confidence in South Korea’s export-based economy.

XRP was at the forefront of the strong movement in cryptocurrency trading. It sparked massive trading activity, recording an inflow of $6.3 billion. DOGE ranked second with an inflow of $1.6 billion, and XLM ranked third with $1.3 billion. Ethereum Name Service (ENS) and HBAR also saw significant trading volume.

This data shows that altcoins play an important role in the cryptocurrency market and account for the largest trading volume in this process. XRP reached its annual peak of $2.80, reaching $42.65 billion in 24-hour trading volume, surpassing Tether to become the third largest cryptocurrency.

Markus Thielen, CEO of 10x Research, stated that altcoins create more transaction volume in the market and said that Bitcoin financing rates remain stable. Thielen said, “The action is clearly in the altcoin market” and emphasized that altcoins have a great advantage over Bitcoin.

CoinMarketCap’s Altcoin season index shows that altcoins have an 83% dominance rate against Bitcoin. This continues to increase trading volume in the market, with altcoins gaining more attention among investors.

These developments show that, in addition to the rise of altcoins and Bitcoin in the cryptocurrency market, other digital assets are also gaining importance. Investors are watching this movement carefully and continuing their research to learn more about the future potential of altcoins.