[Korea crypto market] HYPE takes 0.88% of overseas trading but just 0.01% in Korea

XLM led the Korean market interest ranking with 87.4 points, while its domestic trading share was 14.7 times its overseas share. STX and WLD had larger domestic concentration multiples, but XRP recorded greater domestic turnover. WLFI led the trading surge measure, followed by INJ and XLM.

As of November 5, XLM accounted for 1.63% of domestic trading, compared with 0.11% overseas.

ONDO ranked second with 78.8 points and XRP third with 77 points. Their domestic trading shares were 1.81% and 16.37%, respectively. Domestic turnover over 24 hours was 23.04 billion won for XLM, 25.54 billion won for ONDO and 231.06 billion won for XRP.

Among the 53 assets covered, NEAR and WLD rounded out the top five with 76.9 and 76.4 points. ENA, SHIB, DOGE, STX and SUI completed the top 10.

STX had the largest domestic concentration multiple. Its share of Korean trading was 0.76%, compared with 0.03% overseas, putting its domestic share at 23.7 times its overseas share. WLD followed at 20.7 times, ONDO at 18.3 times and XLM at 14.7 times.

HYPE showed the opposite pattern, accounting for 0.88% of overseas trading but only 0.01% domestically. BNB also had a smaller domestic share, at 0.03% against 0.66% overseas. The corresponding shares were 0.04% and 0.24% for XAUT, and 2.68% and 10.69% for USDC.

WLFI recorded the strongest increase in trading relative to its usual activity, while its price fell 8.2% over 24 hours. INJ and XLM followed on the trading surge measure. MORPHO registered weaker activity.

AAVE had the highest kimchi premium—the price difference between Korean and overseas markets—at 1.48%. ZRO followed at 0.58% and XLM at 0.27%. MORPHO traded at a 0.70% discount in Korea.

[Editor's note] This column uses a market interest index to examine Korean crypto trading. Coverage is limited to assets traded on both domestic and overseas exchanges. The index combines domestic trading share, overseas trading share, the kimchi premium and recent trading surges. It centers on actual trading turnover. Domestic and overseas shares measure each asset's proportion of trading within the respective markets; a higher domestic-to-overseas ratio indicates greater concentration in Korean trading.