Risk-averse South Korean traders are piling into digital assets tied to South Korea’s AI theme, according to Bloomberg. South Korea’s share of global weekly AI token trading volume surged from 0.6% in mid-2023 to 18.7% in May 2024, according to Kaiko data. These tokens are often issued by early-stage projects that seek to use blockchain technology for AI services, even though their utility has yet to be proven. Research shows that many South Koreans are fascinated by both AI and cryptocurrencies. In addition, data from the Korea Securities Depository shows that weekly trading volume for AI tokens has averaged $8 billion since February 2023, up from $300 million in mid-2023. However, some are skeptical about whether interest in AI-related crypto projects is sustainable. The digital asset industry is notorious for the boom and bust of its coins tied to popular memes or social trends.