JPYC: Over Half of Global Spot Volume Comes From Korea, Turnover Up 503x
- —Upbit accounted for 54.18% of JPYC's global spot volume over 24 hours
- —Global JPYC turnover rose from $64,571 on Sept 16 to $32.49 million on Sept 19
- —Volume reached $9.77 million on Sept 20; three-day average was about $18.19 million
- —JPYC is a yen-pegged stablecoin issued 1:1 against the yen since October last year
Why it matters: The Korean listing and integration with the UniFi wallet in LINE sharply expanded demand for the yen stablecoin, intensifying competition in the non-dollar stablecoin segment.
Source: Bloomingbit