Korean Won Topped Dollar as Preferred Currency for Crypto Trades in First Quarter
- Won recorded $456 billion in first quarter crypto trade volume
- Access to crypto has become a political issue in South Korea
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The South Korean won is now the most traded currency against cryptoassets globally with speculative demand for risky tokens in the country surging.
The Korean won accounted for $456 billion in cumulative trade volume on centralized crypto exchanges in the first quarter of 2024, compared with $445 billion in dollar volume, according to data from research firm Kaiko.