South Korean Stocks Hit Record Highs, Trading Volume Surges on trade.xyz for Related Futures Contracts, while Tokenized Spot Trading Cools Off

BlockBeats News, May 11th, as the South Korean stock market continues to hit new highs, the activity of related contracts on trade.xyz has significantly increased. Among them, SK Hynix, whose stock price has doubled in the past month, is the main trading pair on trade.xyz. At the time of writing, Hynix's open interest has reached $32.08 million, with a 24-hour trading volume of $8.03 million.

The ETF EWY, which tracks the Korean stock index, has an open interest of $20.62 million on trade.xyz, with a 24-hour trading volume of $11.66 million. Other stock contracts such as Samsung and HYUNDAI are relatively quiet.

In addition, there are also EWY contract trades on the Binance platform, with the current open interest at $10.9 million and a 24-hour trading volume of $25.15 million.

In stark contrast to the active contract trading, the tokenized spot versions of the related assets have encountered a decline in interest. Data shows that the EWYON issued by Ondo has a 24-hour trading volume of less than $300,000. This also reflects the crypto users' preference for high-risk activities.