South Korean Crypto Frenzy Cools as Altcoin Trading Plunges 75% from March Peak

Crypto trading volume on Upbit, South Korea's largest exchange, has plunged 75% from March's high of $15B
The frenzied altcoin trading activity seen earlier this year has eased off recently
The slump raises questions about whether lofty valuations of altcoins besides BTC and ETH can be sustained
In March, Upbit's volumes briefly surpassed the Korean stock market as interest in altcoins and meme coins soared
Unlike Western exchanges, Upbit users focus heavily on altcoins rather than BTC and ETH, seeking quick profits despite higher risks