South Korea’s cryptocurrency investor base has reached 7.78 million, a 21% increase from the previous year, according to a report by the Financial Intelligence Unit (FIU). This growth is fueled by a 67% increase in daily transaction volume, which hit a record 6 trillion won ($4.3 billion). The most popular cryptocurrency remains Bitcoin, followed by Ethereum, Ripple, Dogecoin, and Ethereum Classic.
Male investors account for 68% of the cryptocurrency user base, with men in their 30s being particularly active in the market. 67% of South Korean investors have assets valued at less than 500,000 won ($362), while 10% have portfolios exceeding 10 million won, and 1.3% of investors have more than 100 million won or $72,000.
High-net-worth individuals with virtual assets worth over 1 billion won ($724,000) account for just 0.03%. Price volatility remains a characteristic of the country’s market, with the Maximum Drawdown (MDD), a measure of price decline from peak levels, reaching 70%, up from 62% in the second half of last year.
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