Matrixport: Currently, trading volume in South Korea is sluggish, and the U.S. election may become a key catalyst for the cryptocurrency market
ChainCatcher news, Matrixport released the latest report stating that South Korea is known for its active altcoin trading, but the current trading volume remains sluggish, and the possibility of a significant rebound in altcoins is low. The funding rate for Bitcoin has always been consistent with the trading volume trends in South Korea, and a higher funding rate typically attracts hedge funds to buy ETFs to profit from the spread.
However, currently, the Bitcoin funding rate, South Korean trading volume, and the purchase volume of Bitcoin spot ETFs are all below the levels seen in March 2024, and the crypto market is still waiting for a "shot in the arm." Next week's U.S. presidential election may become a key catalyst to ignite new momentum in the market.
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