Currency Fluctuations Drive Stablecoin Demand Surge
South Korea's financial markets recently experienced significant volatility as the won-dollar exchange rate surpassed 1,480, triggering risk-off sentiment. Data shows Tether trading volume surged 62% in one day on major exchanges, with transaction value exceeding ₩37.82 billion, reflecting strong market demand for USD-backed assets.
Exchanges Implement Multi-dimensional Stablecoin Strategies
- Korbit's Innovation Program: Introduced zero-fee USDC trading and launched a quarterly trading competition where retail traders achieving weekly volumes of ₩10 million can share a 25,000 USDC prize pool
- Coinone's User Incentives: Distributing 8,000 USDC weekly through continuous reward programs to cultivate stablecoin trading habits
- Upbit & Bithumb's Technological Upgrades: Simultaneously listed USDe - a synthetic stablecoin developed by Ethena Labs, complemented by three-phase Ethena token reward programs targeting top traders
Stablecoins as Market Breakthrough
In the current crypto market downturn, stablecoins have become crucial tools for exchanges to break through challenges. Through low-volatility trading pairs, innovative incentive mechanisms, and new asset classes, platforms are not only effectively boosting trading volumes but also making substantive progress in developing stable revenue streams, providing fresh perspectives for industry innovation during difficult market conditions.