South Korea's cryptocurrency market has reached a remarkable milestone, with over 30% of the country's population now holding digital assets worth more than 102.6 trillion won ($78 billion), according to new data released in November.
The number of crypto investors in South Korea climbed to 15.59 million by November's end, marking an increase of 610,000 investors from the previous month. This surge appears linked to renewed market optimism following Donald Trump's presidential election victory.
The average South Korean crypto holder now maintains digital assets worth approximately 6.58 million won, representing a substantial increase from earlier periods. The total market value has nearly doubled from 58 trillion won in July to 102.6 trillion won in November.
Trading activity on South Korea's major cryptocurrency exchanges has intensified, with the daily trading volume across the top five platforms - Upbit, Bithumb, Coinone, Korbit, and GoPax - reaching nearly 15 trillion won. This volume rivals that of the country's traditional stock markets.
However, the rapid growth has sparked concerns among some officials. Democratic Party lawmaker Lim Kwang-hyun has called for increased government oversight to maintain market stability and protect consumer interests, though specific regulatory measures remain undefined.
The expanding crypto market reflects South Korea's position as a major player in the global digital asset space, with its population showing strong appetite for cryptocurrency investment despite market volatility and regulatory uncertainties.