Recently, South Korean investors have started to play a role in the prices of cryptocurrencies.
So much so that Ripple, which gained the upper hand in the SEC-XRP case, became the focus of attention of South Korean investors in the last days of March and the transaction volume in local exchanges rose to record levels.
Now, Solar (SXP) and icon (ICX) are on the radar of South Korean investors.
According to the news of Coindesk, it has risen as much as 40% in the last 24 hours and reached hundreds of millions of dollars in trading volume on local crypto exchanges.
According to the data, the ICX-Korean won trading pair reached over $420 million in volume on the South Korean exchange UpBit, while the SXP Korean won pair reached over $490 million.
The trading volumes of SXP and ICX have surpassed the volumes of Bitcoin (BTC) and Ethereum (ETH) trading pairs on UpBit.
The trading volume achieved by both SXP and ICX exceeded their market values. Because at the time of writing, the market value of SXP is 449 million dollars, while ICX's is 367 million dollars.
ICX, which has increased 47.45% in the last 24 hours, continues to trade at $ 0.3856 at the time of writing, while SXP, which has increased by more than 40% in the last 24 hours, but lost most of its gains, continues to trade at $ 0.8058.
A similar rally was seen in Ripple (XRP) last week in South Korean stock markets. Because XRP has reached a transaction volume of more than $ 790 million on the UpBit exchange.
*Not investment advice.