South Korea's Cryptocurrency Trading Volumes Soar, Overtaking Stock Market Activity

韩国加密货币交易量飙升，超过股市活动

South Korea's retail trading volumes for cryptocurrencies have surged to a remarkable $18 billion within 24 hours, eclipsing the nation's stock market by 22%. According to a December 2 report by 10x Research, this marked the second-highest trading day of the year for crypto in South Korea, driven by retail investors' interest in high-momentum altcoins.

韩国的加密货币零售交易量在 24 小时内飙升至惊人的 180 亿美元，较该国股市上涨 22%。根据 10x Research 12 月 2 日的一份报告，这标志着韩国加密货币今年第二高的交易日，受到散户投资者对高势头山寨币兴趣的推动。

Ripple's XRP emerged as the star performer, recording over $6.3 billion in trading volumes. Other prominent tokens included Dogecoin (DOGE) at $1.6 billion, Stellar (XLM) at $1.3 billion, Ethereum Name Service (ENS) at $900 million, and Hedera (HBAR) at $800 million. The report highlights that these volumes reflect retail traders' propensity to capitalize on short-term momentum, amplifying trends and injecting fresh enthusiasm into the market.

Ripple 的 XRP 表现出色，交易量超过 63 亿美元。其他著名代币包括狗狗币（DOGE），价值 16 亿美元，Stellar（XLM），价值 13 亿美元，以太坊名称服务（ENS），价值 9 亿美元，以及 Hedera（HBAR），价值 8 亿美元。报告强调，这些交易量反映了零售交易者倾向于利用短期势头、放大趋势并为市场注入新的热情。

Altcoins Dominate Market

山寨币主导市场

These altcoins, often referred to as "dino coins" by crypto enthusiasts, have delivered remarkable returns in recent weeks. XRP has soared by 90%, ENS by 73%, and HBAR by a staggering 168%, outperforming broader market trends.

这些山寨币通常被加密货币爱好者称为“恐龙币”，最近几周带来了可观的回报。 XRP 飙升了 90%，ENS 飙升了 73%，HBAR 飙升了 168%，跑赢了更广泛的市场趋势。

XRP Rally Redefines Market Rankings

XRP 反弹重新定义市场排名

Ripple's XRP is at the forefront of South Korea's crypto frenzy, setting a new yearly high of $2.80 on December 2. This impressive performance has propelled XRP to surpass Solana (SOL) and Tether (USDT) in market capitalization, making it the third-largest cryptocurrency globally. According to TradingView data, XRP's price has climbed from $0.50 in early November, reflecting an extraordinary rally over just one month.

Ripple 的 XRP 处于韩国加密货币狂潮的最前沿，于 12 月 2 日创下了 2.80 美元的年度新高。这一令人印象深刻的表现推动 XRP 的市值超越了 Solana (SOL) 和 Tether (USDT)，成为第三大加密货币全球加密货币。根据 TradingView 的数据，XRP 的价格从 11 月初的 0.50 美元开始攀升，反映出短短一个月内的非凡上涨。

Strategic Discipline in Altcoin Market

山寨币市场的战略纪律

Markus Thielen, the report's author, attributes the surge to altseason dynamics—a market phase characterized by significant interest and trading activity in alternative cryptocurrencies, overshadowing Bitcoin. Thielen observed that Bitcoin's funding rate, a metric often linked to perpetual futures activity, was "relatively mild" at 15% annualized, further signaling the shifting focus toward altcoins. "This divergence between subdued Bitcoin activity and skyrocketing altcoin trading volumes underscores the importance of strategic discipline in navigating the altcoin market," Thielen noted.

该报告的作者马库斯·蒂伦（Markus Thielen）将这一激增归因于山寨季动态——这一市场阶段的特点是对替代加密货币的浓厚兴趣和交易活动，使比特币黯然失色。 Thielen 观察到，比特币的融资利率（通常与永续期货活动相关的指标）“相对温和”，年化率为 15%，进一步表明人们的注意力正在转向山寨币。蒂伦指出：“比特币活动低迷与山寨币交易量飙升之间的这种差异凸显了战略纪律在驾驭山寨币市场方面的重要性。”

Market Implications of High Trading Volumes

高交易量的市场影响

The surge in crypto activity reflects a growing appetite among South Korean retail investors for altcoins, particularly those with high volatility and potential for rapid gains. However, experts caution against over-leveraging during such momentum-driven phases, urging traders to remain cautious.

加密货币活动的激增反映出韩国散户投资者对山寨币的兴趣日益浓厚，尤其是那些波动性高且有快速上涨潜力的山寨币。然而，专家警告不要在这种势头驱动的阶段过度杠杆化，敦促交易者保持谨慎。

As South Korea continues to lead in retail crypto engagement, the market dynamics are likely to fuel discussions about regulation and innovation within the country's burgeoning cryptocurrency landscape. For now, the spotlight remains firmly on altcoins, with traders riding the wave of an explosive altseason.

随着韩国在零售加密货币参与方面继续处于领先地位，市场动态可能会引发有关该国蓬勃发展的加密货币领域的监管和创新的讨论。目前，人们的注意力仍然集中在山寨币上，交易员们正乘着山寨币爆炸性季节的浪潮。