How Did the “Zombie Coin” Suddenly Come Back to Life?

By: blockbeats|2024/12/03 18:00:01

XLM

XRP

HBAR

Wasn't it supposed to be a bull market where "new projects are hot, old projects are not"? What is XLM? And what about HBAR? I've never even heard of these coins, yet they are mysteriously surging in price?

What Are Korean Moms Buying?

Who is actually buying these "zombie coins"? In short: "institutional buying pressure" led by the United States and "retail buying pressure" led by Japan and South Korea. The institutional buying pressure from the U.S. is well known, but let's take a look at the data from neighboring South Korea.

According to a report by a South Korean media outlet naver.news, on the active crypto exchanges in Korea, Upbit and Bithumb, the number of users over the age of 60 has increased by 30.4% compared to the previous bull market, reaching 770,000 accounts. Moreover, considering the wealth distribution in Korea, the elderly collectively hold 6.76 trillion Korean Won in cryptocurrency assets, with an average investment of about 8.72 million Korean Won per person. At the same time, the amount of money held in Korean banks has hit a new low, decreasing by 26.95 trillion Korean Won since the end of June. It seems like Koreans are withdrawing money from banks to "hoard" and buy coins.

Below is the trading volume list from Upbit in Korea, where you'll find BTC being just a "little brother" in this ranking. XRP's trading volume is over 10 times that of BTC, and projects like XLM (Stellar) and HBAR (Hedera), which are rarely seen in the Chinese-speaking community, are also "famous" on the list.

How Did the “Zombie Coin” Suddenly Come Back to Life?

XRP

One of Ripple's flagship products is RippleNet, which is a global payment network connecting banks and payment providers to facilitate secure and near-instant cross-border transactions. Ripple's technology includes its Interledger Protocol (ILP), designed to reduce settlement times and significantly lower transaction costs, enhancing financial institutions' transparency and liquidity management. Furthermore, Ripple plans to issue stablecoins in the future, which could be a huge potential catalyst for its growth.

Upbit 24h Trading Volume: $55.57 billion

Binance 24h Trading Volume: $56.27 billion

HBAR (Hedera Hashgraph)

Hedera Hashgraph utilizes a novel algorithm called Hashgraph consensus to achieve high levels of scalability, security, and fairness. The platform aims to create and deploy decentralized applications (dApps) and services across various industries ranging from finance and supply chain management to gaming and social networks. Unlike traditional blockchains, Hedera Hashgraph adopts a Directed Acyclic Graph (DAG) structure to enable rapid and efficient consensus among network participants, resulting in fast transaction speeds and minimal energy consumption.

Upbit 24-hour Trading Volume: $12.24 Billion

Binance 24-hour Trading Volume: $12.97 Billion

-- Price

XLM (Stellar)

The core of the Stellar network is the Lumens (XLM) cryptocurrency, which acts as a bridge asset facilitating seamless value exchange between different currencies, promoting cross-border transactions. Lumens also play a crucial role in preventing spam attacks, ensuring the security and reliability of the Stellar network. In addition to its payment functionality, Stellartron strongly supports micropayments and facilitates the issuance of digital assets through its decentralized exchange feature.

Upbit 24-hour Trading Volume: $12.64 Billion

Binance 24-hour Trading Volume: $7.36 Billion

ENS

ENS stands for Ethereum Name Service, providing a domain name service for Ethereum akin to how we access internet information through domain names today. Built on Ethereum, ENS enables users to purchase secure, private, censorship-resistant .eth domain names that can be used to link to cryptocurrency wallet addresses or other information stored on Web3 infrastructure. The ENS token has previously experienced price pumps due to endorsements by Vitalik Buterin, and in line with Vitalik's "aesthetic," retail investors in South Korea also have a fondness for ENS.

Upbit 24-hour Trading Volume: $8.41 Billion

Binance 24-hour Trading Volume: $1.66 Billion

SAND

Sandbox is a metaverse gaming platform on Ethereum, where users can create, share, and play with crypto assets. Sandbox has been relatively overlooked by the market recently, but Sand has become a favorite among Korean retail investors, with daily price surges exceeding 60% multiple times and a 24-hour trading volume double that of Binance.

Upbit 24-hour Trading Volume: $5.82 Billion

Binance 24-hour Trading Volume: $2.67 Billion

The Retail Investors' Battle Behind Wall Street: Unpacking the Launch Logic of Bull Market 2.0

However, it's not just about the old coins; there are also many compliant coins (including the ones mentioned above: XRP, HBAR, XLM). These coins share several commonalities: retail investors hardly pay attention to them, they were in a downtrend or consolidation phase before November 5, and they experience direct significant price surges without providing an opportunity to get on board beforehand. So why are these coins specifically chosen?

To understand these, we first need to clarify the underlying logic of this bull market.

This bull market mainly follows the United States. The Chinese information on Web3 actually exists in an "information silo." Many people do not know what happened in the United States, Japan, and Korea (which follows the U.S. market).

The start of this bull market and the logic of the first half of this year are fundamentally different. The first half of the year was a bull market driven by ETF positives, where the market followed meme and AI hype. Therefore, it was "hot coins" > others; the second half of the year is the compliance bull with the rise of knowledgeable insiders. Hence, the hype is around compliant assets, "compliant coins" > "hot coins" > others. The tokens that surged this time mainly comply with the ISO 20022 compliance standard.

ISO 20022 is the standard for electronic data interchange between financial institutions, covering financial information exchanged between financial institutions. ISO 20022 is more advanced than the traditional formats used by banks because it supports a larger amount of data and faster processing speed, making it very suitable for fast payments.

If a token complies with ISO 20022, it will be prioritized for international payments.

IOTA

The IOTA token is the native digital currency of the IOTA network, used to facilitate transactions and data transfer within the Tangle. Its feeless nature eliminates barriers to microtransactions, making it ideal for microtransactions in IoT scenarios. IOTA's focus on scalability, security, and seamless transactions aligns with its vision to become the foundational technology of the rapidly growing IoT industry.

Upbit 24h Trading Volume: $321 million

Binance 24h Trading Volume: $181 million

ALGO

Algorand focuses on scalability, low transaction fees, and fast confirmation times, making it suitable for a variety of applications, including financial services, decentralized finance (DeFi), and asset tokenization. One of Algorand's key innovations is its proprietary consensus mechanism, namely Pure Proof-of-Stake (PPoS), which enables fast transaction confirmation times while maintaining a high level of decentralization.

Upbit 24h Trading Volume: $388 million

Binance 24h Trading Volume: $317 million

ADA

Cardano (ADA) is a blockchain platform designed to provide a secure and scalable infrastructure for developing decentralized applications (dApps) and smart contracts. Cardano is developed using a research-driven approach, focusing on scalability, sustainability, and interoperability to address the limitations of existing blockchain technology.

Upbit 24-hour Trading Volume: $5.34 Billion

Binance 24-hour Trading Volume: $11.22 Billion

When Will the Bull Market End

However, when these coins skyrocket by 5 times, when will it all come to an end? Perhaps the answer lies behind the Korean Mom. Based on Upbit Altcoin's daily trading volume data, it can be seen that the recent volume has reached the peak of the March mini bull run. The daily trading volume of Upbit Altcoin can be seen as a signal indicator of bull market FOMO.

The bull market is a grand retreat, and when even the Korean Mom is caught up in FOMO, it often signifies a temporary peak.

On June 9, The Kobeissi Letter, citing Goldman Sachs data, reported that global investors are selling South Korean stocks at an unusually rapid pace. In the latest trading session, foreign investors sold about $801 million worth of Kospi constituent stocks again; total foreign outflows last week reached about $10 billion, and the market has been in net foreign selling on nearly every trading day over the past month. According to the data cited in the report, foreign investors have sold about $75 billion worth of South Korean stocks so far this year. Meanwhile, South Korean retail and institutional investors together recorded roughly $69 billion in net buying over the same period, suggesting that the market’s main buying support has come from domestic capital rather than returning overseas funds. The information currently disclosed still mainly comes from The Kobeissi Letter’s retelling and Goldman Sachs data summaries, while public details on the statistical period and the specific definition of “selling” remain relatively limited.

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In the fast-moving digital asset ecosystem, derivatives platforms face an extreme architectural test. High-leverage futures markets demand more than just standard security—they require absolute operational precision, zero-latency matching engines, and ironclad structural scalability, all while navigating intense market volatility.

As global platforms scale to meet these demands, the industry is shifting away from rigid, monolithic setups toward a more agile, "decoupled" infrastructure philosophy.

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For elite global exchanges like WEEX (founded in 2018), this architectural choice becomes critical when scaling high-volume retail features like social copy trading. When thousands of users automatically mirror the real-time strategies of elite traders simultaneously, it triggers sudden, monumental spikes in concurrent transactional volume.

To prevent execution latency or settlement bottlenecks during these peak volatility events, a platform's primary engine must remain entirely dedicated to risk management, copy-trade synchronization, and order matching.

The Architectural Rule: New-generation platforms must separate front-end user execution engines from heavy backend infrastructural overhead to eliminate operational friction.

By separating these layers, platforms can maintain complete sovereignty over their trading environments and user experiences while strategically aligning with institutional-grade infrastructure ecosystems. This strategic framework allows modern exchanges to leverage advanced Digital Asset Custody infrastructure such as Cobo’s behind the scenes, ensuring that backend wallet management scales elastically alongside trading spikes.

Capitalizing on Market Momentum and 400× Leverage

In a derivatives arena where platforms offer up to 400× leverage on perpetual contracts, capital efficiency and market agility are core business metrics. To capture market momentum, an exchange needs the ability to rapidly expand its asset offerings, supporting everything from legacy crypto assets to sudden, trending altcoins across a massive library of trading pairs.

Adopting a flexible, scalable Wallet-as-a-Service (WaaS) solution such as Cobo’s could completely rewrite the development timeline for high-growth exchanges. Instead of spending months of engineering capital building out custom backend wallet architectures for every new blockchain network, platforms can deploy localized infrastructure in days.

This agility allows platforms to instantly scale their listings to over a thousand trading pairs without compromising security or delaying time-to-market. It mirrors the exact operational advantages seen during high-velocity market events, similar to how advanced wallet infrastructure empowers platforms during sudden asset surges; allowing exchanges to pass that speed and liquidity directly to their global user base.

A Mature Foundation for Growth

The synergy between trusted infrastructure ecosystems and global trading platforms represents the natural evolution of a maturing crypto market. As WEEX continues to scale its global spot and derivatives offerings for over 6 million users, adopting robust backend paradigms proves that platforms no longer have to compromise between cutting-edge trading velocity and uncompromised structural security.

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