XRP whale dominance in centralized exchange outflows declined 27% between Sept. 30 and Oct. 8, falling from 64% to 46.7% according to CryptoQuant data. The decline follows a period when large holders controlled over 82% of exchange outflows on Sept. 29, with Binance's whale share reaching 84.2%. The

South Korea’s capital market is undergoing a structural adjustment in capital flows. The average daily trading volume on South Korea’s five major KRW exchanges fell from $2.82 billion in July 2025 to $305 million in July 2026, a decline of approximately 89%; during the same period, the KOSPI Index rose 114.44%, and the trend of retail funds “moving from crypto into stocks” was once highly pronounced. However, in the second half of 2026, this narrative began to show signs of reversal. After Bitcoin returned to $87,000, crypto trading activity in South Korea picked up significantly. Upbit’s daily spot trading volume rose from approximately $770 million on June 13 to $1.817 billion on September 22, an increase of approximately 136%. The direction of capital migration is shifting from one-way outflows to a two-way contest. The underlying driver of this change is a repricing of return expectations.