CDS Crypto News Dogecoin Premium Surges on Korean Exchanges as Demand Spikes Post-Trump Election Win
Crypto News

Dogecoin Premium Surges on Korean Exchanges as Demand Spikes Post-Trump Election Win

128
Dogecoin Premium Surges On Korean Exchanges As Demand Spikes Post-Trump Election Win

Korean Exchanges See Dogecoin Premium Rise Amid Trump-Driven Crypto Enthusiasm

Korean Exchanges See Dogecoin Premium Rise Amid Trump-Driven Crypto Enthusiasm

Prices are rising, and local exchanges Upbit and Bithumb are seeing a noticeable premium over the global giant Binance due to the apparent influx of Koreans into the DOGE market today. The DOGE/KRW pairs from Bithumb and Upbit, adjusted for the USD/KRW currency deal, were 1.5% higher than Binance’s DOGE/USDT, drawing the largest premium in three months, according to data source TradingView. Korean demand for DOGE has risen 78% since pro-crypto Donald Trump won the U.S. presidential election a week ago, and premiums reflect this renewed enthusiasm.

Dogecoin Trading Volume on Upbit and Bithumb Surges to $8 Billion After Trump Win

Data on trading volume points to the same conclusion. Since Trump’s victory, DOGE has been the cryptocurrency with the largest trading volume on Bithumb and Upbit, according to 10x Research. In a note to clients on Wednesday, the research firm stated that the most recent 24-hour trading volume for DOGE pairs totals an astounding $8 billion, or 57% of the market value of all Korean stocks.

Usually observed during market peaks, speculative fervor is linked to an increase in Korean demand. Today’s premiums on local exchanges, however, are much smaller than the double-digit price differences seen in early 2021 and much lower than the March highs.

For more up-to-date crypto news, you can follow Crypto Data Space.

Dogecoin Premium Surges On Korean Exchanges As Demand Spikes Post-Trump Election Win
Written by
lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Leave a comment

Leave a Reply

Related Articles

Bitcoin Price Surge Likely as Stablecoin Inflows Hit Historic Highs of $9.7 Billion

Record stablecoin inflows of $9.7 billion to crypto exchanges signal growing investor...

Bitcoin ETF Surges 20% as Traders Bet on Record-Breaking Gains

Bitcoin's rise to $100K sparks explosive trading in ETFs and options, with...

eCash (XEC) Price Prediction: A Comprehensive Look at Long-Term Prospects

The cryptocurrency network eCash (XEC), often referred to as “wealth reinvented,” aims...

Crypto Phishing: Targeting CEOs and Engineers with Sophisticated Tactics

Learn how crypto phishing scammers are targeting high-level executives and earning big...