According to Pioneer Economic Report, the number of user accounts over 60 years old on South Korea's major cryptocurrency exchanges Upbit and Bithumb reached 775,700 (as of the end of September), an increase of 30.4% since the end of 2021. Users in this age group hold a total of 676.09 trillion won in cryptocurrency assets, with an average investment amount of about 8.72 million won. Meanwhile, the balance of demand deposits at South Korea's five major banks is 592.67 trillion won, a decrease of 26.95 trillion won since the end of June, hitting a new low since January of this year.
Analysis suggests that the Trump rally effect combined with expectations of interest rate cuts has accelerated the shift of funds from banks to risk assets. [Original link]