Retail crypto traders in South Korea are making bold moves, turning their attention to altcoins like XRP$XRP and Dogecoin (DOGE) as improving geopolitical conditions and market sentiment spark a fresh wave of risk-taking.In a surprising twist, XRP and DOGE have recently surpassed Bitcoin and Ethereum in trading volume on major Korean exchanges like UpBit, with combined 24-hour volumes for the two altcoins exceeding $250 million—far ahead of BTC and ETH, which came in under $150 million. This surge in activity comes on the back of easing U.S.-China trade tensions and growing anticipation of interest rate cuts later this year. Markets have also been buoyed by a massive $1 billion short squeeze, which forced the closure of overleveraged positions and sent prices soaring across the board.XRP and DOGE have each jumped over 15% in the past week alone, while ETH has outperformed all major tokens with nearly a 40% gain—the largest weekly rise since 2021. Bitcoin, meanwhile, posted a more modest 10% climb.

“Risk assets have recovered sharply to levels that are now challenging even the most ardent bears,” said Augustine Fan, head of insights at SignalPlus. “We believe the pain trade remains to be higher prices until more macro bears throw in the towel.”This renewed appetite for altcoins is reminiscent of the so-called “Kimchi premium” era, when South Korean retail investors famously chased high-volatility assets, pushing local prices far above global averages.Adding fuel to the fire is the recent announcement from U.S. and Chinese officials that they will slash tariffs on a range of goods—cutting some from 145% to 30% for 90 days. The move has been viewed as a major de-escalation in trade tensions and a positive signal for global markets.

“Investors are less apprehensive about crypto as U.S.-China trade talks find resolution and rate cuts appear more likely,” said Jeff Mei, COO of BTSE. “If the Fed signals a dovish pivot next month, it could push bitcoin past all-time highs and re-ignite lending and investment in the U.S. economy.”

While attention remains on potential inflows from institutional Ethereum ETFs and upcoming central bank decisions in June, one thing is clear: South Korean traders are once again embracing volatility—and this time, XRP and DOGE are lea

ding the charge.