Matrixport: Both the trading volume in the South Korean market and Bitcoin funding rates have declined
ChainCatcher news, Matrixport released a chart stating that the trading volume in the South Korean market is highly correlated with Bitcoin funding rates because South Korean traders have significant influence in the market. As trading volumes decline, annualized Bitcoin funding rates also decrease. Recently, trading volumes have been below $1 billion for three consecutive days, which may indicate that funding rates will further decline.
However, as Korea Blockchain Week approaches, market activity and sentiment may rebound.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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