A recent survey highlighted by BitcoinWorld has unveiled a remarkable surge in cryptocurrency investments among South Koreans in 2024. The nation, already a significant player in the global crypto market, is witnessing unprecedented adoption rates as more individuals and institutions dive into digital assets.
According to the survey, the total value of crypto holdings in South Korea has reached a staggering $71.6 billion, equivalent to 105.1 trillion won. This data, compiled by the Financial Supervisory Service (FSS), underscores the growing trust and interest in cryptocurrencies among South Koreans, with over 10 million investors now participating in the market.
The report also indicates a 21% increase in the number of crypto investors in the first half of 2024, rising from 6.45 million to 7.78 million. Alongside this, the average daily trading volume has soared by 67%, climbing to 6 trillion won, reflecting heightened market activity and enthusiasm.
This explosive growth is not just limited to individual investors. Local crypto exchanges have reported a staggering 106% jump in profits, totaling 590 billion won in the same period. This financial success highlights South Korea's robust infrastructure and regulatory environment that supports the crypto industry.
Experts suggest that South Korea's tech-savvy population and strong digital economy are key drivers behind this crypto boom. The government's progressive stance on blockchain technology and recent discussions around corporate crypto investments are also fueling optimism in the sector.
As South Korea continues to cement its position as a crypto powerhouse, global investors are keenly watching how this trend might influence other markets. The survey's findings signal a potential shift in how digital assets are perceived and integrated into mainstream finance in the region.
Andrew Lee
