It is interesting to see that both popular presidential candidates in South Korea support cryptocurrency, especially ETFs and the Korean won stablecoin. The South Korean crypto market is one of the most active in the world, with reports suggesting that over 1/3 of the population (approximately 18 million people) participate in digital asset trading.
Most South Korean users do not actively trade BTC or ETH; there are some who engage with memes, but not many, and more who prefer altcoins.
From what I've gathered, the altcoins that South Korean users are trading do not overlap significantly with those in the Chinese-speaking community. Perhaps this is one of the important reasons why price resonance has not been formed.
The significant lowering of the threshold for issuing on-chain assets in this cycle has led to an oversupply of on-chain assets, with liquidity scattered, ultimately failing to achieve the price increases of tens or hundreds of times seen in previous cycles. Projects that manage to survive in such conditions must have certain advantages.
Finally, if South Korea can truly promote the development of stablecoins and RWA (Real World Assets), it would be beneficial for providing the infrastructure for crypto finance, especially for truly decentralized and trustless neutral platforms.
