How Crazy Are Koreans About Trading Cryptocurrencies 🔥 🔥 🔥
The obsession Koreans have with trading cryptocurrencies is no less intense than ours. In Korea, regardless of age, from the elderly to university students, there is a high level of interest in cryptocurrencies. This nationwide enthusiasm has turned trading into a social phenomenon.
In major cryptocurrency exchanges in Korea, such as Upbit and Bithumb, the number of accounts held by users over 60 years old has reached 775,700, showing the ongoing demand for cryptocurrencies in the Korean market.
Even political figures in Korea actively participate in trading activities, such as Kim Nam-guk, whose total virtual currency trading volume from 2020 to 2023 reached 111.8 billion won, equivalent to 567 million yuan.
Additionally, the balance of demand deposits in Korea's five major banks has hit a new low since January this year, while CryptoQuant data shows that the monthly total trading volume of stablecoins in Korea's top five CEXs is approximately 16.17 trillion won, a sevenfold increase from about 2 trillion won recorded at the beginning of the year.
The number of active users in Korean exchanges has reached 6.45 million, and 99% are retail investors, meaning that one in every ten Koreans is involved in trading. Even in the first quarter of this year, the trading volume of the Korean won has already surpassed that of the US dollar.
The above data indicates that Koreans take their attitude toward getting rich overnight seriously; behind all this speculative madness is a rather helpless reality. The class rigidity in Korean society has become very severe, and speculation is the only way for young people to change their fate.
Many young people are attracted by reports of "cryptocurrency legends," which offer a glimmer of hope after facing a bleak future. In short, trading cryptocurrencies carries risks, and investment should be approached with caution.
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