$STRIKE tops the Upbit trading chart, the favorite for "Kimchi Premium" among newly listed tokens.

Upbit's trading leaderboard on July 5th has been taken over by STRIKE, indicating a rapid shift of the "Kimchi Premium" market hotspot in South Korea towards newly listed tokens. (Background: Upbit listed Ravencoin's KRW trading pair, with RVN experiencing a big pump of 104%, and silent miners seeing their profits surge threefold.) (Additional context: $SIGN experienced a big pump of 80%, touching $0.125! The listing effect on Upbit exploded.) South Korea's largest crypto assets exchange, Upbit, suddenly saw a change in its daily trading leaderboard: the STRIKE/KRW trading pair surged to first place with a 13.15% share, pushing out long-time front-runners XRP, Bitcoin, and Ether. This single-day "change of guard" highlights the strong interest of South Korean retail investors in new tokens against a backdrop of a trading volume reaching $1.435 billion. Leaderboard reshuffle: STRIKE tops the chart in one day. According to CoinGecko data, the top five trading pairs on Upbit that day were STRIKE, XRP, BTC, ETH, and BLAST, while on the previous day, July 4th, XRP ranked first with 13.1%. BLAST's trading volume ranked fifth, surprising users accustomed to international trading. The strong intraday fluctuations once again highlight how Upbit's trading structure is highly influenced by market sentiment. STRIKE rose more than 28% in the past 24 hours, currently reported at $8.4. Strike's dApp frontend is currently suspended, and it is only listed on Upbit in CEX. The "Kimchi Premium" and long-tail asset XRP often see prices in South Korea higher than the international market due to capital controls and local demand, referred to as the "Kimchi Premium." This creates astonishing liquidity for specific tokens on Upbit. Upbit accounts for 14% to 17% of global XRP transactions, with XRP/KRW at one point accounting for 18% of its market. Now STRIKE has taken the lead, with Coinpaprika data showing that in early July, Upbit accounted for about 68% of STRIKE's global transactions. A similar case is the meme coin MOODENG, which saw its trading volume surge to $323 million on its first day of listing on Upbit, indicating that new token listings can attract a significant influx of retail money. Related reports: South Korea "abandoning CBDC" shifts towards private stablecoins, with the central bank stating: the first wave of banks opening up, followed by private companies. Eight major banks in South Korea plan to jointly establish a KRW stablecoin issuance company: we cannot let USD stablecoins dominate the local market. South Korea launches a "cryptocurrency spot ETF roadmap," with details to be announced in the second half of the year, alongside the advancement of the Digital Asset Basic Law. The article "$STRIKE tops Upbit's trading leaderboard, 'Kimchi Premium' loves new listed tokens" was first published in BlockTempo, the most influential blockchain news media.