Crypto News Today: South Korea Stablecoin Balances Fall as Stock Demand Grows

Korean Traders Shift Funds From Stablecoins to Local Equities Stablecoin balances on South Korea's five largest crypto exchanges have fallen 55% since July 2025, as traders shifted funds into stocks after the won weakened sharply against the dollar. Data from Allium Labs shows holdings dropped from $575 million in July to about $188 million by mid-March. The slide picked up after the won moved beyond 1,500 per dollar, a level last seen during the 2008 financial crisis. Allium tracked Ethereum and Tron wallets linked to Upbit, Bithumb, Coinone, Korbit, and GOPAX. The data points to strong outflows as the won hit a 16-year low against the dollar. In turn, traders appear to have sold tether at favorable USD/KRW levels and converted the proceeds into won. , founder of DNTV Research, said the weaker currency increased the appeal of exiting dollar-denominated holdings. From there, capital moved into local assets. The pattern suggests a direct response to foreign exchange moves rather than a wider retreat from risk.