South Korea has experienced significant changes in the number of cryptocurrency investors. The 2024 forecasts indicate a sharp increase in the number of people investing in digital assets.
Projected Growth of Cryptocurrency Investors
The number of cryptocurrency investors in South Korea is expected to reach 9.66 million in 2024, increasing by more than 50% from the previous year. According to data obtained from five major South Korean cryptocurrency exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax, the number of investors with trading accounts on these platforms will reach 9,667,023 by the end of 2024. This figure reflects an increase of 3,333,439 new investors, equating to a 52.6% growth compared to 2023.
Age Characteristics of Investors
A significant proportion of cryptocurrency investors in South Korea are over the age of 50. Approximately one in four investors in the country falls within this age group. Notably, nearly half of high-net-worth investors with substantial cryptocurrency assets in South Korean Won are also aged 50 and older.
Need for Regulation and Latest News
Lawmaker Ahn Do-jae emphasized the necessity of establishing a regulatory framework to protect investors, stating, “A minimum regulatory framework should be implemented as soon as possible to protect investors.” Meanwhile, earlier today, South Korea’s second-largest cryptocurrency exchange Bithumb announced the listing of the Across Protocol (ACX) KRW trading pair.
The growth in the number of cryptocurrency investors in South Korea highlights the urgent need for effective regulatory measures to protect market participants. At the same time, South Korean cryptocurrency exchanges continue to actively develop, including new projects and offerings for their users.
