Ethereum

South Korea's largest cryptocurrency exchanges are preparing for a large-scale revaluation of assets represented on local platforms. According to The Block, South Korean exchanges are planning to review the status of more than 1,300 cryptocurrencies under updated, stricter self-regulatory standards coming into effect on July 19.

South Korea holds its position as one of the largest and most active cryptocurrency markets in the world. According to Kaiko data, in the first quarter of 2024, the South Korean won (KRW) overtook the US dollar (USD) in trading volume on cryptocurrency exchanges. Trading volume on the country's largest cryptocurrency exchange, Upbit, amounted to more than $30 billion in June, according to The Block.

Trading in speculative cryptocurrencies sets South Korea apart from other countries. Altcoins such as DOGE and SHIB are much more popular in the country than the flagship cryptocurrencies Bitcoin or Ethereum.