South Korea accounts for approximately 30% of the global cryptocurrency trading volume, with a significant 85% of this activity concentrated in altcoins, according to data from Kaiko. This highlights the country's strong influence in the altcoin market. In contrast, Japan, while trading less in overall volume, boasts a Bitcoin market liquidity that is three to five times deeper than South Korea's. This indicates a robust and liquid market for Bitcoin in Japan, despite its lower trading volume compared to South Korea.