The South Korean virtual asset market is experiencing a recovery, with volume surging.

In July, the South Korean virtual asset market ushered in a wave of "rising volume and price" explosive行情. As of 8 PM on July 24, the 24-hour trading volume of South Korea's largest cryptocurrency exchange exceeded $10.2 billion, with an increase of 94.5%; the second-largest exchange also experienced a surge, with a 24-hour trading volume exceeding $3.2 billion, up by 61.5%.

Before this wave of frenzy, the underlying liquidity in the market had quietly accumulated. According to data platforms, from July 13 to 19, the trading volume of stablecoins on the five major cryptocurrency exchanges in South Korea reached 2.226 trillion Korean won (approximately 1.62 billion USD).

The trading enthusiasm of Korean investors began to emerge on July 11. On that day, the price of XRP tokens surged from $2.60 to $3.00 within a few hours, with a total net buying pressure of 45 million XRP in the spot market, 70% of which came from the largest exchange in South Korea. This increase was almost entirely driven by Korean buying.

XRP is one of the most favored virtual assets among Korean investors, with approximately 15% of the global trading volume coming from the country. On July 18, XRP broke the $3.6 mark, reaching a new high in six months. As of July 24, the price of XRP was around $3.16, with a 24-hour trading volume of $2.28 billion on a certain trading platform, firmly maintaining its position as the platform's most popular asset.

On July 23, the SAHARA token of the Sahara AI platform experienced a second wave of excitement. The SAHARA token reached a maximum daily increase of 86% and ranked third in trading volume on a certain exchange's spot market. As of 8 PM on July 24, its trading volume in the past 24 hours reached 2.3 billion USD, with 43.56% of spot trading coming from the largest exchange in South Korea and another 4.33% from the second largest exchange.

After the SAHARA token broke through $0.16 and reached a new all-time high, the Newton Protocol's NEWT token began to rise. As of 8 PM on July 24, the NEWT had increased by over 70% in the past 24 hours, with a volume of $1.78 billion, of which 57.07% came from South Korea's largest exchange and 4.99% from the second largest exchange, fully demonstrating the concentration and explosive power of South Korean crypto retail investors.

In addition, Korean investors have also driven the rise of multiple tokens such as Hyperlane, Babylon, HUMA, LISTA, and MERL.

Against the backdrop of a favorable market trend and an improved regulatory environment, the listing speed of cryptocurrencies on South Korean exchanges has also noticeably accelerated. As of July 21, the five major virtual asset exchanges in South Korea have listed a total of 229 types of KRW virtual assets, accounting for 85.44% of last year's total. The number of listings on the two major exchanges this year has already surpassed last year’s total and is expected to reach a new high in nearly five years.

However, the intense flow of funds and rapid rotation also come with significant volatility risks. XRP and SAHARA have both seen short-term pullbacks of over 10%, with a dense accumulation of contract liquidations. If liquidity suddenly reverses, prices will face severe fluctuations.

Analysts warn that with the rise of altcoins, the behavior of South Korean investors may undergo significant changes. Against the backdrop of a surge in new capital inflows, South Korean investors' enthusiasm for altcoins often exceeds that of overseas markets. In small investments, the FOMO mentality plays an important role, potentially posing great risks to investors.