① The number of "crypto traders" in South Korea has skyrocketed, with over 15.59 million cryptocurrency investors in November, accounting for more than 30% of the total population; ② The reason behind this may be the surge in Bitcoin prices after Trump won the USA election, resulting in optimistic market sentiment; ③ The total crypto holdings and daily trading volume of the South Korean public have grown significantly, with trading scales approaching stock market levels.
According to a report on December 27 by Caixin, South Korea has long been regarded by many as a "crypto trading powerhouse." A significant portion of the population is investing in cryptocurrencies, and the public's enthusiasm for "crypto trading" is likely quite rare on a global scale.
Following Trump's victory in the USA election this November, the enthusiasm of the South Korean public for cryptocurrencies has surged alongside the spike in Bitcoin prices. Data from the South Korean central bank shows that in November, the number of people holding cryptocurrencies in South Korean exchanges exceeded 15.59 million, which is more than 30% of South Korea's total population.
The number of "crypto traders" in South Korea has seen a significant increase.
According to statistics from the South Korean central bank on the number of investors with accounts at the five major South Korean exchanges—Upbit, Bithumb, Coin One, Cobit, and Gopax—as of November this year, the number of people holding cryptocurrencies in South Korean exchanges exceeded 15.59 million, an increase of 0.61 million from 14.98 million in October.
Currently, the total population of South Korea is estimated to be around 51.23 million. This means that the number of people holding cryptocurrencies accounts for over 30% of the total population.
The report states that the number of cryptocurrency investors in South Korea has been rising, and it surged sharply in November. This may be a result of the highly optimistic market sentiment following Trump’s election as president of the USA in early November. Throughout his campaign, Trump has promised to support the virtual assets industry and even claimed he would include Bitcoin in the national reserve.
Looking back over the past few months, the number of cryptocurrency investors in South Korea was 14.74 million in July, 14.82 million in August, 14.88 million in September, and 14.98 million in October. In other words, there has been an average increase of about 0.1 million each month.
In addition, the total amount of Cryptos held by the people of South Korea increased from 586 trillion won (approximately 398.48 billion USD) in July to 102.6 trillion won (approximately 69.768 billion USD) in November. The daily average Trade volume also rose from 2.9 trillion won (approximately 1.972 billion USD) in July to 14.9 trillion won (approximately 10.132 billion USD) in November.
Lim Kwang, a member of the South Korean Democratic Party, stated that the scale of crypto asset trading in South Korea is rapidly approaching a level comparable to that of the Stock market.
"At all levels of government, it is necessary to prepare to enhance the stability of the virtual asset market and establish a sound market trading mechanism to protect user rights."
