Economic Title: Korean Stablecoin Volume Jumps 62% as Weak Won Pushes Traders Toward USD‑Pegged Assets
• South Korean exchanges recorded a sharp 62% surge in stablecoin trading volume, led by USDT and USDC, as the won fell to multi‑year lows against the U.S. dollar.
$XRP According to CryptoQuant and local media, trading in Tether alone hit 378.2 billion KRW (~$261M) once USD/KRW broke above 1,480, marking the strongest demand shift since 2008’s currency stress period.
$TRU • The spike reflects a rapid migration toward dollar‑pegged assets, with Korbit, Coinone, Upbit, and Bithumb launching aggressive campaigns—fee waivers, USDC rewards, and listings of new stablecoins such as USDe—to capture liquidity during heightened FX volatility.
$ONDO Analysts note that traders are using stablecoins as a hedge against currency depreciation, effectively seeking USD exposure through crypto rather than bank channels.
• Meanwhile, major Korean banks slashed dollar‑deposit interest rates to near zero after government pressure, accelerating the shift toward stablecoins as retail and institutions seek alternatives amid market downturns.
This trend highlights stablecoins’ growing role not only in trading but also in macro‑hedging during currency instability. 💱📉⚡ [cryptonews.com], [cryptorank.io] [crypto2community.com]
#KoreaCrypto #StablecoinFlow #FXVolatility #MacroWatch