In this issue of Coin Metrics’ State of the Network, we’ll explore the seasonal and geographical patterns of crypto trading activity. We’ll use the South Korean market as a case-study. Leveraging timezone data, we can observe localized effects across several crypto exchanges and assets. Lastly, we’ll provide an update on on-chain activity to various altcoins.
Key takeaways:
- The Kimchi Premium, the colloquial term for the price dislocation between South Korean and global markets, was observed once more during the brief period of political instability in South Korea. As a result, Bitcoin was trading at almost $115k.
- Crypto trading sees strong seasonal market and onchain activity across exchanges and assets.
- Onchain activity has grown considerably since the beginning of the year, particularly for coins mainly traded in Asia and have been targeted by SEC enforcement actions.
Brought to you by coinmetrics.io
