30% of South Korea’s Users Have Invested in Crypto
The Bank of Korea has recently announced that there were more than 15.59 million domestic investors in crypto assets, which accounts for over 30% of the country’s population. The top five domestic exchanges, including Upbit and Bithumb, are seeing a significant amount of trading activity from these investors.
The number of domestic investors has been steadily increasing in the past months, with a notable surge of 610,000 investors in November. This is the highest increase seen so far, with an average monthly growth of about 100,000 investors.
The figures from July (14.74 million investors), August (14.82 million), September (14.88 million), and October (14.98 million) reflect this steady growth trend. The spike in November can be attributed to the sharp rise in Bitcoin prices, which went from around 100 million KRW in late October to over 135 million KRW in late November.
This significant increase in investors and Bitcoin prices has contributed to a total crypto asset holding of 102.6 trillion KRW (approximately $79 billion) in the country, compared to 58 trillion KRW in October.