Litecoin is benefiting from the broader interest in cryptocurrencies. Ethereum, bitcoin and ripple have all seen big price rises this year.

On Tuesday morning, 36.9 percent of litecoin buying happened in Chinese yuan, followed by 22.4 percent in Korean won, according to Cryptocompare. Depending on the time of day, buying in Korean won is larger than yuan.

In South Korea, authorities have been looking at ways to regulate digital currencies, which is buoying the market.

“Regulation will bring an aura of legitimacy to the country’s burgeoning speculative cryptocurrency market and will encourage more participation from individual and institutional investors,” Thomas Glucksmann, head of marketing at cryptocurrency exchange Gatecoin, told CNBC via email.

Nearly 18 percent of litecoin buying is happening in bitcoin, which is also showing that current cryptocurrency investors are looking to diversify.