Two Major Addresses Double Down on South Korea ETF with $3.7M Bullish Bet

Shift in Capital Flow Hints at Market Sentiment Change

On March 10, amid heightened global market volatility, assets linked to South Korea’s equity market drew attention. On-chain data revealed that two highly correlated addresses (0x42e, 0xb58) simultaneously increased bullish positions in the South Korea ETF (EWY) during off-hours trading.

Strategic Accumulation at Key Price Level

The combined position size reached $3.7 million, with an average entry price of $133.97. Although currently down slightly by around $30,000 (-2%), the positioning reflects a disciplined, long-term outlook rather than short-term speculation.

Betting Against the Downturn

• EWY closed up 5.6% at $133.89, but dipped to $128 in post-market activity
• The addresses systematically accumulated during the dip, suggesting tactical buying
• The move may reflect confidence in Korea's tech sector and export-driven recovery

This type of coordinated accumulation is often seen among sophisticated, institution-level players, whose actions could foreshadow broader market momentum.