Korea’s top five CEXs’ weekly trading volume jumped from 108.0 trillion won to 311.0 trillion won—about $23.0 billion—an increase of 188.04% month-over-month, the highest in nearly 10 months. Upbit accounts for 59.61%, and it’s still the absolute leader.
But today’s market didn’t give this volume any credit: BTC 77,644, 24h -2.07%; ETH 2,434, -2.18%; SOL 103.29, -2.40%.
With volume this large yet prices moving down, it feels more like turnover than aggressive accumulation. Out of the $23.0 billion, how much was buy-side versus sell-side? This card doesn’t reveal it. The next thing to watch is the won-side: if the kimchi premium narrows even to negative, then this move is local funds borrowing liquidity to exit; if the premium can still hold up, then that’s a different story.
But today’s market didn’t give this volume any credit: BTC 77,644, 24h -2.07%; ETH 2,434, -2.18%; SOL 103.29, -2.40%.
With volume this large yet prices moving down, it feels more like turnover than aggressive accumulation. Out of the $23.0 billion, how much was buy-side versus sell-side? This card doesn’t reveal it. The next thing to watch is the won-side: if the kimchi premium narrows even to negative, then this move is local funds borrowing liquidity to exit; if the premium can still hold up, then that’s a different story.