[Korea crypto watch] ONDO’s Korean trading share is 24.2 times its overseas share

XRP accounted for 17.31% of Korean trading, while ONDO and WLD had domestic trading shares more than 20 times their overseas shares. All 10 tokens leading the domestic interest index posted seven-day losses.

XRP’s share of Korean trading was 10.6 times its overseas share. ONDO and WLD showed even greater domestic concentration, but that concentration coincided with weekly price declines across the leading tokens.

As of November 14, WLD led the domestic interest index with 84.9 points and accounted for 2.20% of Korean trading.

ONDO ranked second with 78.4 points, followed by XRP with 77.4. Their domestic trading shares were 1.76% and 17.31%, respectively. Korean trading volume over 24 hours totaled 26.84 billion won for WLD, 21.45 billion won for ONDO and 211.03 billion won for XRP.

The dataset covered 51 tokens traded on both Korean and overseas exchanges.

ONDO had the largest domestic-to-overseas trading-share ratio in the comparison, at 24.2 times. Its Korean share was 1.76%, against 0.07% overseas. WLD followed at 22.0 times, SHIB at 13.2 times and XRP at 10.6 times.

Other tokens had a larger presence overseas. BNB accounted for 0.65% of overseas trading but 0.05% in Korea. USDC also had a smaller domestic share, at 1.66% against 11.40% overseas, as did XAUT at 0.02% against 0.10%, and HYPE at 0.38% against 0.78%.

INJ recorded the strongest recent trading surge, although its price fell 0.4% over 24 hours. BNB and FIL also saw increased activity. ATOM, LIT and USDC recorded the weakest trading activity relative to their usual levels.

POL had the largest kimchi premium—the Korean price premium over overseas markets—at 0.52%, followed by SHIB at 0.46% and MNT at 0.45%. ZRO traded at a 0.53% discount in Korea, followed by CC at a 0.38% discount and ARB at a 0.37% discount.

[Editor’s note] This column examines Korean crypto trading through a domestic interest index covering tokens traded on both Korean and overseas exchanges. The index combines domestic and overseas trading shares, the kimchi premium and recent trading surges, focusing on actual trading volume. Domestic share measures a token’s portion of Korean exchange trading; overseas share measures its portion of overseas trading. The comparison indicates how concentrated trading is in Korea.