It's interesting to see both popular presidential candidates in South Korea supporting cryptocurrency, especially in terms of ETFs and stablecoins tied to the Korean won. The South Korean crypto market is one of the most active in the world, with reports suggesting that over 1/3 of the population (around 18 million people) participate in digital asset trading.

This reminds me of a conversation I had not long ago with a Korean OG. He mentioned that most Korean users don't really engage with BTC or ETH; there are some who play with memes, but not many, and many more who are into altcoins.

From my brief understanding, the altcoins that Korean users are involved with don't overlap much with those in the Chinese-speaking community. Perhaps this is one of the important reasons why a price resonance cannot form.

The significant lowering of the threshold for issuing on-chain assets in this cycle has led to an overflow of on-chain assets, with liquidity becoming dispersed, ultimately preventing the kind of price surges seen in the previous cycles, which were dozens or even hundreds of times higher. Projects that manage to survive in such conditions must have exceptional qualities in some aspects.

Finally, if Korea can truly promote the development of stablecoins and RWA, it would be a positive for providing infrastructure for crypto finance, especially for truly decentralized, trustless, neutral platforms.