South Korean Investors Shift Focus from Bitcoin to These Altcoins

South Korean investors have shifted their focus away from Bitcoin and towards altcoins like UXLINK, CKB, ARK, and PENDLE. This change in investment strategy is attributed to the negative Bitcoin Korea premium index of CryptoQuant. According to data, CryptoQuant’s index fell to -0.55, indicating the largest decline since October 2023. This means that Bitcoin is trading at a significant discount on Korean exchanges compared to overseas exchanges. As a result, investors have turned to altcoins, particularly high-beta ones, in search of undervalued opportunities. Markus Thielen, the founder of 10x Research, noted that investors are anticipating a strong Q4 rally and are diversifying their portfolios accordingly. He mentioned that experienced investors have previously accumulated altcoins like TAO, ENA, SEI, APT, SUI, NEAR, and GRT during Bitcoin’s surge past $60,000 to $65,000. It’s important to note that this article does not provide investment advice. To explore a wide range of cryptocurrencies, you can register with Binance exchange and receive a 20% commission discount through this link. For exclusive news, analytics, and on-chain data, follow our Telegram and Twitter accounts.