Mar 18, 2024

10x Research founder Markus Thielen weighs in on the correlation between Korea's political developments and the recent meme coin rally.

Video transcript

This meme coin rally started around, you know, February 28th and it almost came out of nowhere. I mean, a lot of people have predicting it, but I think the timing is quite interesting and I think the timing coincides actually with some political developments in Korea. And Korea is very well known for the main coin trading. And as an example, you know, Shiva traded for seven consecutive days as the number one token on up and up. It is in Korea focus exchange with 80% market share in the country there. And you know, Shea traded at one point $3.5 billion. So over this seven day period, it traded more than, you know, 10 $11 billion. And I think when you look at a breakdown kind of like the flows or the performance of all these various, you know, tokens from, you know, from B DC really to the main coins, you're seeing that a lot of the main coins are actually 80% of the performance occurs during Asia hours. And Asia hours is really driven by, by Korean traders

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