The Tiger Research report examines changes in Korean users' activity within the Ethereum ecosystem in Q1 2025. Political and economic factors influence users' investment strategies.
Expansion of Korean Users' Activities on Onchain Platforms
The Korean cryptocurrency market is witnessing a shift from centralized exchanges to onchain environments. This is driven by various factors, including limited investment opportunities in the domestic market. Recent political events contributed to distrust in centralized systems, leading to increased demand for cryptocurrencies and stablecoins on international platforms.
Analysis of Ethereum User Activities
Data shows that Korean users' activities in Ethereum have steadily increased since 2016. However, a decrease in active wallet counts was noted in Q1 2025 due to market volatility. Despite this overall decline, an increasing trend of small-value transactions was observed, indicating conservative behavior from large investors.
Korean User Participation in the Ethereum Ecosystem
In Q1 2025, Korean users primarily engaged in asset transfers, utilizing services like Metamask. Participation in the NFT market remained significant despite stagnant trading volumes, with users often seeking rewards from airdrops.
The report provides valuable insights into the activity patterns of Korean users based on data from over 60,000 wallets. Future research aims to cover various ecosystems and monitor changes in the Korean cryptocurrency market.
