South Korean crypto market shows high domestic concentration in ONDO and ICP

The South Korean cryptocurrency market is showing significant domestic concentration in specific assets compared to global trading volumes. ONDO has emerged as a primary focus, accounting for 5.72% of domestic trading despite representing only approximately 0.24% of global volume, a domestic tilt of over 22 times.

Other notable domestic activities include XRP, which recorded high turnover, and NEAR, which saw positive seven-day returns. Internet Computer (ICP) experienced a sharp spike in trading activity alongside a price increase of over 10%.

Market disparities are also evident in the 'Kimchi premium,' the price gap between Korean and offshore markets. PEPE showed the highest premium, while assets like STRK and PYTH traded at a discount in Korea relative to international prices. While some assets like ONDO and WLD show heavy domestic concentration, others such as BNB remain significantly more active in offshore markets.