South Korea confirms its leadership in cryptocurrency as over 30% of its population actively invests in digital assets.
Surging Investments Following Global Events
According to data from the Bank of Korea, there has been a sharp increase in cryptocurrency investments following significant global events such as the U.S. presidential election. By the end of November, 15.59 million South Koreans held accounts on the country's top exchanges.
Market Expansion and Valuation Growth
The cryptocurrency market in South Korea has experienced unprecedented growth. In November, the total value of digital assets reached 102.6 trillion won, nearly doubling since October. Average holdings per investor rose significantly over the same period.
Daily Trading Volume Rivals Stock Market
In November, the daily trading volumes in the cryptocurrency sector reached 14.9 trillion won, comparable to those of the main stock indices in South Korea. Deposits on exchanges also doubled over the month.
Despite the significant growth of the cryptocurrency market, South Korea faces regulatory and stability challenges. The introduction of a cryptocurrency tax policy has been delayed until 2027, highlighting the need for clear guidelines.
