According to Wu Blockchain, based on Kaiko data, South Korea accounts for 30% of global crypto trading volume, with altcoins making up 85%, Bitcoin 9%, and Ethereum 6%. In the Japanese market, the monthly trading volume denominated in yen remains between $2 billion and $3 billion, spread across four exchanges, which is only a fraction of South Korea's approximately $26 billion weekly trading volume. However, the depth of Japan's Bitcoin market is 3 to 5 times higher.