The South Korean won is now the most traded currency against cryptoassets globally with speculative demand for risky tokens in the country surging. The Korean won accounted for $456 billion in cumulative trade volume on centralized crypto exchanges in the first quarter of 2024, compared with $445 billion in dollar volume, according to data from research firm Kaiko. The rise in Korean won denominated trading is partly a function of the ongoing fee war in South Korea. Smaller exchanges like Bithumb and Korbit have recently run zero-fee trading promotions to try to lure traders from Upbit, which dominates the local ... (full story)