A massive rise in South Korean exchange traffic since June
A South Korean token listing seems to have caused their user base to thrive by 10,000 people per month.
Recently, a South Korean exchange introduced a new token which had a positive impact on the exchange's user base.
This rise could be just because of one token’s fame. After klaytn -Kakao’s token (KLAY) - was listed in June, a South Korean exchange, called Coinone, experienced a user base growth by 10,000 people per month.
This token belongs to Kakao and was listed after it. Kakao is a huge tech company in South Korea and owns the most famous chat app in South Korea. This app now supports Crypto transactions as a part of it, Kakaotalk, upon whose lunch, Kakao stated that the messenger’s new crypto wallet has got more than 100,000 users in less than 24 hours.
According to a report, Klay has increased in value more than threefold in three months which has caused an increase in other exchanges’ volume, too.
As reported in CoinMarketCap data, Coinone solely accounts for 10% of the whole local market in South Korea.
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