[Korea crypto watch] ONDO’s Korean trading share is 25.2 times its overseas share

ENA led the Korean market interest index with 80.6 points, while its share of Korean trading was 10.4 times its overseas share. ONDO and STX each had domestic trading shares more than 25 times their overseas shares, and MNT had the highest Korean price premium among the assets covered.

STX showed the largest domestic concentration, followed by ONDO. ENA and WLD also had larger trading shares in Korea than overseas despite double-digit price declines over the past week.

As of November 2, ENA ranked first in the interest index with 80.6 points and accounted for 2.78% of Korean trading.

ONDO ranked second with 75.1 points, followed by SHIB with 74.5. Their domestic trading shares were 2.10% and 0.54%, respectively. Domestic trading turnover over 24 hours totaled 20.52 billion won for ENA, 15.51 billion won for ONDO and 3.95 billion won for SHIB.

The comparison covered 53 assets traded on both Korean and overseas exchanges.

STX’s domestic trading share was 30.2 times its overseas share, at 0.76% versus 0.03%. ONDO followed at 25.2 times, with a domestic share of 2.10% against 0.08% overseas. WLD and SHIB followed at 21.0 times and 12.4 times, respectively.

Other assets had a greater trading presence overseas. HYPE accounted for 1.42% of overseas trading but just 0.02% domestically. BNB’s overseas and domestic shares were 1.02% and 0.04%, respectively; USDC’s were 12.04% and 3.32%; and XAUT’s were 0.18% and 0.04%.

MNT had the highest kimchi premium—the price difference between Korean and overseas markets—at 0.90%, followed by SHIB at 0.32% and INJ at 0.31%. DOGE traded at a 0.76% discount in Korea, while ZRO and LIT had negative premiums of 0.64% and 0.55%, respectively.

[Editor’s note] Korea crypto watch examines domestic trading through an interest index covering assets traded on both Korean and overseas exchanges. The index combines domestic and overseas trading shares, the kimchi premium and recent trading surges, with an emphasis on actual trading turnover. Domestic share measures an asset’s portion of trading on Korean exchanges; overseas share measures its portion of overseas trading. A higher domestic-to-overseas ratio indicates greater concentration in Korean trading.