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The number of digital asset investors in South Korea has surged significantly toward the end of 2024. For the first time, South Korea compiled detailed statistics from its five major cryptocurrency exchanges (Upbit, Bithumb, Coinone, Korbit, and Gopax). This development might push the government to create a secure trading environment, protect investors’ rights, and ensure market stability. Record-Breaking 15.59 Million Crypto Investors in South Korea According to Yonhap News Agency, Representative Lim Gwang-hyun of South Korea’s Democratic Party (a member of the National Assembly’s Finance and Planning Committee) disclosed data from the Bank of Korea. The data reveals that as of late November, the number of domestic digital asset investors reached 15.59 million, an increase of 610,000 compared to late October. This figure accounts for 30% of South Korea’s total population (approximately 51.23 million). In November, the average daily trading volume on South Korea’s digital asset exchanges reached 14.9 trillion KRW (approximately $10.5 billion), nearly matching the combined trading value of the KOSPI stock market (9.92 trillion KRW) and KOSDAQ (6.97 trillion KRW). By the end of November, the total value of digital assets held by South Korean investors reached 102.6 trillion KRW (approximately $70.3 billion), a significant increase from 58 trillion KRW ($39.7 billion) in October. Deposits—funds not yet invested and held on exchanges—reached 8.8 trillion KRW ($6.03 billion) by the end of November, up sharply from 4.7 trillion KRW ($3.2 billion) in late October. “The scale of digital asset trading is growing rapidly and is now comparable to the stock market. The government must fully prepare to establish a safe trading environment, protect users’ rights, and ensure market stability,” Representative Lim Gwang-hyun emphasized. Crypto Investment Trend in South Korea (2024). Source: YNA Additionally, data from Kaiko indicates that cryptocurrency trading volumes on South Korean exchanges soared in November,…

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Filed under: News - @ December 25, 2024 11:15 am