Altcoins News
By Dan Saada
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Local Price Records in Yen and Won. On August 10, Ethereum briefly touched ¥639,455 in Japan, according to CoinMarketCap data.
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Not Just an Exchange Rate Story. Often, when cryptocurrencies set new highs in local currency terms, the move can be explained by…
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Domestic Trading Restrictions Intensify Local Trends. One reason local demand plays such a strong role is that both Japan and South Korea maintain…
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Catalysts Behind the Demand. Several factors have likely contributed to the heightened interest in Ethereum among Japanese and…
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The Bitmine Effect. One of the most significant institutional drivers is U.S.
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Regional Signals for Global Markets. For global investors who primarily track Ethereum’s price in U.S.
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What’s Next for Ethereum?. If local demand in Japan and South Korea continues to grow, and if institutional accumulation like…
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Ethereum has achieved new all-time highs in Japan and South Korea when measured in local currencies, signaling strong domestic interest that goes beyond simple exchange rate…
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On August 10, Ethereum briefly touched ¥639,455 in Japan, according to CoinMarketCap data. This broke the previous record of ¥632,954, set on December 17, 2024.
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In South Korea, Ethereum reached ₩5,971,000 on the same day, according to data from Upbit, surpassing the prior high of ₩5.9 million from December 2021.
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While Ethereum’s U.S. dollar price was around $4,300—still about 12% below the all-time high of $4,891 set in November 2021—the regional records in yen and won point to market…
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Often, when cryptocurrencies set new highs in local currency terms, the move can be explained by changes in exchange rates. But this time, the data suggests a different story.
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In 2025 so far, both the Japanese yen and the Korean won have appreciated against the U.S. dollar. The yen–dollar exchange rate improved from ¥157.33 to ¥147.
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The fact that Ethereum prices still broke records in these currencies indicates robust local demand, not just currency-related price inflation.
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One reason local demand plays such a strong role is that both Japan and South Korea maintain strict rules on cryptocurrency trading.
The Currency Analytics
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