As artificial intelligence hype permeates the cryptocurrency space, risk-loving South Korean traders are moving aggressively into digital assets related to the AI theme, ChainCatcher reported. Kaiko data shows that South Korean AI tokens’ share of global weekly trading volume has risen from a low of 0.6% in mid-2023 to 18.7% in May.
Such tokens are often issued by early-stage projects seeking to deploy blockchain technology for AI services, but the practicality of such a combination has yet to be proven. Research shows that many South Koreans are fascinated by both AI and cryptocurrencies, with about 10% of the population having been exposed to tokens.
Weekly trading volume for AI tokens has averaged $8 billion since February, up from an all-time low of $300 million in mid-2023. Nvidia Corp. and Microsoft Corp. ranked second and third, respectively, among the most popular overseas stocks among domestic investors this year, according to data from the Korea Securities Depository.