Matrixport released a chart claiming that the volume of transactions in the Korean market is highly correlated with bitcoin funding rates, as Korean trading users have significant influence in the market.
As trading volumes have declined, so have bitcoin's annualized funding rates. Recently, trading volumes have been below $1 billion for three consecutive days, which could signal a further decline in funding rates.
However, with the Korean blockchain week approaching, the market active level and sentiment may pick up.
Matrixport: South Korean market trading volume and bitcoin funding rates both decrease
2024-08-19 07:11:59
Matrixport release chart Korea market volume bitcoin funding ratedesk3cryptocurrencydesktopCrypto News
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