South Korea Crypto Investments Surge: 30% of Population Now Owns Digital Assets

South Korea sees a surge in crypto investments. The total number of virtual asset investors is now 15.59 million. This is over 30% of the population.

Data from the Bank of Korea shows domestic investors now hold around $79 billion in crypto assets. This shows growth in the number of participants and overall market activity.

According to data from the Bank of Korea, as of the end of November, the total number of cryptocurrency investors in South Korea exceeded 15.59 million for the first time, accounting for more than 30% of the country’s population, with total assets of US$79 billion and average…

— Wu Blockchain (@WuBlockchain) December 25, 2024

The number of South Korean crypto investors grew by over 610,000 people from October to November 2024. This confirms rising investor interest.

Read also: Good News for Crypto Investors? South Korea Might Scrap Tax on Gains

Data from the country’s top five exchanges — Upbit, Bithumb, Coinone, Korbit, and GOPAX — reveals this increase comes as hope builds around the virtual asset market after the U.S. presidential election.

Holdings and Trading Volume Explode

By the end of November, South Korean investors’ total virtual asset holdings were valued at approximately 102.6 trillion (around $79 billion). This is up from 58 trillion in July 2024.

Despite fluctuating amounts per person, ranging from 3.41 million to 3.87 million won earlier in the year, the value jumped to 6.58 million in November.

The total trading volume is also up, now approaching the daily transaction levels of South Korea’s domestic stock market. In November, the average daily trading volume of digital assets on local exchanges hit 14.9 trillion. This topped the combined daily trading volumes of both the KOSPI and KOSDAQ markets.

Increased Deposits Show Market Optimism

Along with rising holdings and trading activity, the volume of deposits in local exchanges is also surging. By the end of November, uninvested exchange funds reached 8.8 trillion. This is up from 4.9 trillion in July.

With the rapid growth in crypto transactions and investor participation, many call for measures to ensure market stability. Representative Lim Hyun of the Democratic Party of Korea says government preparations are needed to safeguard the stability of the virtual asset market and protect user rights.

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