韩元飙升至交易量最大的加密货币法定货币榜首

2024 年第一季度，韩元 (KRW) 超越美元 (USD)，成为加密货币交易量最大的法定货币，交易量超过 4560 亿美元。韩国交易所（尤其是 Upbit、Bithumb 和 Korbit）之间激烈的费用竞争加剧了韩元的主导地位，尽管 Bithumb 因零费用交易而暂时飙升，但 Upbit 仍然保持着强势地位。香港证券交易所即将上市比特币 ETF，加上美国以太坊 ETF 的监管前景不确定，可能会进一步提升韩元在加密货币交易中的作用。

South Korean Won Surges as Most Traded Crypto Fiat Currency, Overtaking US Dollar

韩元飙升，成为交易量最大的加密法定货币，超越美元

In a remarkable shift in the cryptocurrency trading landscape, South Korea's Won has emerged as the world's most traded fiat currency against cryptocurrencies, surpassing the long-standing dominance of the US Dollar. This significant milestone marks a testament to the thriving crypto ecosystem in South Korea and the intense competition among its crypto exchanges.

加密货币交易格局发生了显着转变，韩元已成为全球加密货币交易量最大的法定货币，超越了美元的长期主导地位。这一重要的里程碑标志着韩国加密货币生态系统的蓬勃发展及其加密货币交易所之间的激烈竞争。

Fee War Ignites Trading Volume Surge

费用战引发交易量激增

South Korean crypto exchanges have engaged in a fierce "fee war," vying for market share with aggressive strategies to lower transaction fees. Upbit, the region's leading exchange since 2021, has maintained its dominance with over 82% of the market.

韩国加密货币交易所展开了激烈的“费用战”，通过积极降低交易费用的策略来争夺市场份额。 Upbit 自 2021 年以来一直是该地区领先的交易所，以超过 82% 的市场份额保持着主导地位。

However, Bithumb and Korbit launched campaigns offering zero fees on transactions, which significantly impacted market dynamics. Bithumb's market share tripled after implementing zero fees in October 2023, leading to a surge in trade volumes on Korean platforms.

然而，Bithumb 和 Korbit 发起了零交易费用的活动，这对市场动态产生了重大影响。 2023 年 10 月实施零费用后，Bithumb 的市场份额增加了两倍，导致韩国平台上的交易量激增。

Hong Kong's ETF Approvals Fuel Optimism

香港 ETF 获批激发乐观情绪

Regulatory approvals play a crucial role in shaping cryptocurrency markets. Hong Kong's Securities and Futures Commission (SFC) recently approved three spot Bitcoin ETFs, marking a positive development for the crypto industry. The listing of these ETFs on the Hong Kong Stock Exchange is expected to galvanize a post-halving rally for Bitcoin.

监管批准在塑造加密货币市场方面发挥着至关重要的作用。香港证券及期货事务监察委员会（证监会）最近批准了三只现货比特币 ETF，标志着加密行业的积极发展。这些ETF在香港证券交易所上市预计将刺激比特币减半后的反弹。

US Ether ETFs Face Uncertain Future

美国以太坊 ETF 面临不确定的未来

In contrast to Hong Kong's progressive stance, the United States regulatory landscape remains uncertain regarding the approval of spot Ether ETFs. The U.S. Securities and Exchange Commission (SEC) has not yet granted approval, leading to skepticism among industry experts.

与香港的进步立场相反，美国监管环境在批准现货以太坊 ETF 方面仍然存在不确定性。美国证券交易委员会（SEC）尚未批准，这引起了行业专家的怀疑。

Implications for Crypto Trading Dynamics

对加密货币交易动态的影响

The emergence of the South Korean Won as the most traded crypto fiat currency highlights the dynamic nature of the global crypto market. Exchange strategies and regulatory developments in different jurisdictions will continue to shape future trends in trading volumes and market dynamics.

韩元作为交易量最大的加密法定货币的出现凸显了全球加密市场的动态本质。不同司法管辖区的交易所策略和监管发展将继续影响交易量和市场动态的未来趋势。

Regulatory Harmonization Challenges

监管协调挑战

The upcoming Bitcoin ETF listings in Hong Kong and the ongoing regulatory deliberations in the US exemplify the global nature of the crypto market. These developments underscore the growing acceptance of cryptocurrencies as legitimate financial assets but also highlight the complexities of regulatory harmonization across different regions.

即将在香港上市的比特币 ETF 以及美国正在进行的监管审议都体现了加密货币市场的全球性质。这些发展凸显了加密货币作为合法金融资产的接受度日益提高，但也凸显了不同地区监管协调的复杂性。

Market Outlook and Future Trends

市场展望及未来趋势

The first quarter of 2024 has witnessed a pivotal shift in the cryptocurrency trading landscape, with the South Korean Won becoming a dominant force. This transformation underscores the evolving regulatory environment, competitive strategies among exchanges, and broader macroeconomic factors.

2024 年第一季度，加密货币交易格局发生了关键转变，韩元成为主导力量。这种转变凸显了不断变化的监管环境、交易所之间的竞争策略以及更广泛的宏观经济因素。

Key Takeaways:

要点：

• South Korean Won has overtaken the US Dollar in crypto trading volume, reaching over $456 billion due to intense fee competition among exchanges.
• Upbit leads the market despite Bithumb's temporary surge from zero-fee transactions.
• Hong Kong's approval of Bitcoin ETFs may further boost Won's crypto trading dominance, contrasting with the uncertain future of US Ether ETFs.
• The dynamic nature of the global crypto market highlights the influence of regulatory developments, exchange strategies, and macroeconomic factors on trading volumes.
• Regulatory harmonization remains a complex challenge, as evidenced by the contrasting approaches towards cryptocurrency ETFs in different jurisdictions.
• The future of cryptocurrency trading will be shaped by the strategies adopted by exchanges in South Korea, along with the evolving regulatory environment in different jurisdictions.

由于交易所之间激烈的费用竞争，韩元的加密货币交易量已超过美元，达到超过 4560 亿美元。尽管 Bithumb 因零费用交易暂时激增，但 Upbit 仍引领市场。香港批准比特币 ETF 可能会进一步提振韩元的加密货币交易主导地位，与美国以太坊 ETF 的不确定未来形成鲜明对比。全球加密货币市场的动态本质凸显了监管发展、交易所策略和宏观经济因素对交易量的影响。监管协调仍然是一个复杂的挑战，这一点从对比中可以看出。不同司法管辖区对加密货币 ETF 的态度不同。加密货币交易的未来将取决于韩国交易所采取的策略以及不同司法管辖区不断变化的监管环境。