South Korea's cryptocurrency market has reached significant heights, with 15.59 million investors now involved, making up 30% of the population. The market value of cryptocurrencies held by South Korean investors has surged to 102.6 trillion won (approximately $70.8 billion), marking a 76.9% increase from the previous month.
The average daily trading volume for cryptocurrencies in November reached 14.9 trillion won (around $10.3 billion), which is comparable to the combined daily trading volume of the KOSPI and KOSDAQ stock markets. This indicates that crypto transactions are now rivaling traditional financial markets, showing the growing integration of digital assets in the country's financial ecosystem.
The data, released by the Bank of Korea, reveals that the number of cryptocurrency investors has steadily increased, with 100,000 new investors joining per month since July. This surge in adoption signals a robust and expanding crypto market in South Korea, with many more individuals turning to digital assets for investment.
How do you think this rapid growth in South Korea’s crypto market will influence global trends?
For daily authentic news updates, follow, like, and share! Thanks for reading, and stay tuned for more updates and analysis.
Source: Finance Magnates, Chaincatcher, CCN