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South Korean cryptocurrency markets are on the rise due to a $1 billion short position squeeze and improving geopolitical sentiment.
South Korean individual investors have begun to invest in XRP and Dogecoin as a sign that risk appetite has returned among speculative investors.
In local exchanges, the trading volumes of these two tokens in the last 24 hours surpassed Bitcoin (BTC) and Ethereum (ETH). This rise is occurring in an environment of renewed risk appetite in the cryptocurrency and stock markets, according to some investors, due to the easing of US-China trade tensions and macroeconomic indicators suggesting possible interest rate cuts in the later months of the year.