South Korea’s Crypto Scene: 15% of Population Involved, but Growth Slows 😬
South #Korea ’s Financial Supervisory Service has released a report on the state of the nation’s cryptocurrency industry in the first half of 2024, covering data from 14 exchanges and 7 wallet providers. Key insights include:
• Average Daily Trading Volume: 6 trillion KRW (4.3B USD)
• Users: 7.78 million, mostly in their 30s
• Profit: 590 billion KRW (428M USD)
• Assets Held in Exchanges: 5 trillion KRW (3.6B USD)
Notably, around 15.5% of South Koreans are involved in #crypto investments, but only 4.2% have more significant holdings (above 1 million KRW). Despite the U.S. introducing a spot Bitcoin #ETF , new inflows into South Korean exchanges have been minimal, rising only 2.9% over the previous half-year. This trend suggests most trading activity comes from existing users rather than new entrants.
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