According to a report by DeSpread Research on October 30th, Koreans are active cryptocurrency traders with a strong preference for altcoins and local tokens, and local exchanges also outperform global competitors in trading volume. According to a survey by the Korean Financial Intelligence Unit (KoFIU), the number of cryptocurrency investors in the country reached about 6 million this year, accounting for 10% of the total population. Most of these investors are engaged in investment activities centered on centralized trading platforms, making the influence of centralized trading platforms in the Korean cryptocurrency market significant. DeSpread wrote in the report: "Korean exchanges have reacted explosively to Ripple-related news. The trading volume of the four major Korean exchanges increased from $27 billion in June to $37 billion in July, a month-on-month increase of 37%; most individual investors on Upbit show strong interest in altcoins with high profit potential and tend to accept related high risks. This is considered one of the reasons why the proportion of altcoin trading is relatively high in the Korean market." The preferred trading network in Korea is also different. Due to relatively low transaction fees, Tron's network is used for most transactions.