According to recent central bank data, the number of cryptocurrency holders in South Korea continues to rise, reflecting growing interest in digital assets.
South Korea and Cryptocurrency Investors
According to the data, the number of cryptocurrency holders exceeded 15.59 million in November, an increase of 610,000 from the previous month. These figures are based on the count of investors who opened accounts on five major South Korean exchanges: Upbit, Bithumb, Coin One, Cobit, and Gopax. With a population of approximately 51.23 million, this means over 30% of South Koreans are investing in cryptocurrencies. In November, total cryptocurrency assets rose to 102.6 trillion won (69.768 billion USD), with the average daily trading volume climbing to 14.9 trillion won (10.132 billion USD).
Government’s Approach to the Crypto Market
Lim Kwang-hyun noted that the level of cryptocurrency transactions is approaching national exchange levels. He emphasized the need for government preparations to enhance the stability of the virtual asset market and to establish robust market operations that protect user rights. Regulators are working on new regulations to ensure market stability and protect users.
Future Outlook of the Crypto Market
The rise in the number of investors is attributed to market optimism following Donald Trump’s election in the U.S. With an average increase of approximately 100,000 each month, this trend is expected to continue. The popularity of decentralized financial instruments and technological advancements continue to attract the interest of cryptocurrency investors. The rapid change in financial markets necessitates the development of new strategies for both individual and institutional investors.
South Korea continues to strengthen its position in the cryptocurrency market, given its significant growth and impact on the country's economy.
