New Trends in the World of Cryptocurrency!👀

In South Korea, an increasing number of users aged 60 and above are actively participating in the cryptocurrency market. According to the latest data, as of the end of September, the number of user accounts in this age group on major South Korean cryptocurrency exchanges Upbit and Bithumb has reached 775,700, a 30.4% increase from the end of 2021. These users collectively hold cryptocurrency assets valued at 67.609 trillion won, with an average investment amount of approximately 8.72 million won. This trend indicates that interest in cryptocurrencies among elderly investors is rapidly increasing.

At the same time, the balance of demand deposits at the five largest banks in South Korea is declining. As of the end of June, the balance was 592.67 trillion won, a decrease of 26.95 trillion won from before, marking a new low since January of this year. This phenomenon may be related to investors shifting funds from traditional banks to riskier cryptocurrency assets.

Analysts point out that the combination of the Trump rally effect and expectations of interest rate cuts may accelerate this trend of capital flow. Investors seem to be filled with expectations for potential returns from cryptocurrencies, especially against the backdrop of increasing volatility in traditional financial markets.

Additionally, cryptocurrency policies in South Korea are also changing. The ruling and opposition parties have reached a consensus to postpone cryptocurrency taxation, with the cryptocurrency income tax policy originally set to take effect on January 1, 2024, being delayed until 2027. This decision may further stimulate investor interest in cryptocurrencies, as the delay in tax policy provides investors with a longer time window for planning and investment.

What are your views on the future development of the cryptocurrency market? Feel free to share your thoughts and insights in the comments! Whether you are a loyal fan of cryptocurrencies or just starting to learn about this field, we look forward to your participation and discussion. Let's explore the infinite possibilities of cryptocurrencies together!