Matrixport: The trading volume of South Korean exchanges is closely related to the annualized funding rate of Bitcoin

2024-07-12 16:06:28

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ChainCatcher news, Matrixport released a report indicating that an analysis of Bitcoin's performance across different time zones shows that in the past 30 days, most of Bitcoin's decline occurred during the Asian trading session, accounting for -13% of the total decline of -15%. This trend may be primarily influenced by the market activity of Korean retail traders during these periods.

When analyzing retail activity, South Korea stands out particularly. The trading volume on Korean exchanges is closely related to Bitcoin's annualized funding rate, which is a key indicator for determining the profitability of basis trading (spot vs. futures) and market trends. Korean traders have played a crucial role in driving the surge in the altcoin market. Due to the lack of a futures market for Korean retail investors, their interest in altcoins has led to a significant number of leveraged opportunities.

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