Ethereum breaks ath in Japan and Korea with local currencies star-news.press/wp
Ethereum reached its highest local levels in Japan and South Korea on Sunday. The reason is likely to be the high domestic demand rather than the effects of the currency.
By Monday morning, ETH is slightly traded at the highest level during the day but is still much higher than the last averages.
Japanese yen, Korean won the denominated prices
On August 10, ETHEREUM was touched for a brief period of 639,455 in Japan by CoinMarkcap data, bypassing its former local record of 632,954 yen on December 17, 2024.
While the price of the ETH hovering for the dollar, which hovers about $ 4,300 at the time-is not less than 12 % of 4,891 dollars in November 2021-The price of the yen to the second largest encrypted currency has already shattered the record.
In South Korea, ETHEREUM reached 5,971,000 ￦ on August 10 through UPbit exchange data, where the previous local peak of 5.9 million yuan from December 2021.
Investors who follow US dollar plans may only miss the main regional signals. Local peaks often appear first as currency trends and demand alignment correspond to.
The effect of the exchange rate? Unlikely
Currency price changes in non -dollar terms are often associated with the effects of the exchange rate. In this case, however, this is unlikely. A year away, the Won -Dollar rate decreased from 1,476.23 to 1,388.77, and the yen -dollar rate decreased from 157.33 to 147.65 .. 65.
Both currencies are appreciated against the dollar during this period. Usually, the local currency means the most powerful gain when transferring from dollars. However, Ethereum prices in both South Korea and Japan rose more than the dollar.
This indicates an increase in domestic demand in both markets. Trading in local currencies occurs in local stock exchanges in the two countries, and foreign investors cannot open accounts. These restrictions are caused by foreign exchange regulations that limit participation abroad.
Apparently, the Japanese and Korean public welcomed the multiple stimuli that support the progress of ETH prices, including the expansion of companies ’dependence beyond Bitcoin and an American presidential executive that allows currency investments in retirement plans 401 (K). The withdrawal of litigation in the US Securities and Exchange Committee (SEC) against Ripple established the broader Altcoin market.
This assembly was also supported by an increase in ETHEREUM purchases from American companies publicly listed, carrying out the so -called “ETHEREUM” – strategic accumulation of the regular and ETH as the asset of companies.
For example, BitMine now owns more than $ 2.9 billion of ETAREUM after accumulating 833,137 Eth in just 35 days. The company aims to control up to 5 % of the total ETH supplies through aggressive accumulation and strategic partnerships of liquidity. This approach puts a point image before its peers from public companies, which enhances its progress in ETHEREUM’s institutional wives.
Beyond ethereum ath appeared in Japan and Korea in local currencies first appeared on Beincrypto.
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2025-08-11 02:40:00
