The number of cryptocurrency exchange users in South Korea has exceeded 16 million following Donald Trump's election as the US President, marking a significant portion of the country's population.
Growth in Crypto Exchange Users
According to Yonhap, over 16 million South Koreans have accounts on cryptocurrency exchanges. This data is based on the top five exchanges: Upbit, Bithumb, Coinone, Korbit, and Gopax. The number of users is expected to reach 20 million by the end of the year, despite some views on market saturation.
Comparison with the Stock Market
The number of cryptocurrency investors has exceeded 14 million, according to Yonhap. In comparison, the number of individual investors in the stock market was only 14.1 million by the end of last year.
Cryptocurrencies Among Public Officials
South Korea's Ethics Commission reported that 20% of surveyed officials hold cryptocurrencies worth 14.4 billion won. Additionally, the Financial Intelligence Unit released a list of 22 unregistered platforms.
The growth of crypto asset users in South Korea indicates a strong interest in digital currencies, outpacing the stock market's development.
