Crypto News – South Korea’s Crypto Revolution: KOFIU Study Shows 6.45 Million Strong User Base

South Korea’s Crypto Revolution: KOFIU Confirms Record 6.45 Million Users Engaged

Crypto News- Delving into the recent KOFIU report offers a captivating glimpse into the world of crypto investors in South Korea. With over 80,500 individuals boasting hefty accounts valued at over 100 million Korean won, and a staggering 65% holding less than 500,000 Korean won, the spectrum of participation is vast.

Among the intriguing findings, approximately 2,500 investors flaunt investments surpassing 1 billion Korean won, representing over 10% of the nation’s populace. What’s more intriguing is that 99% of these high rollers identify as ‘individual’ investors, hinting at a widespread involvement across various economic strata.

Rapid Rise: South Korea’s Crypto Trading Volume Surges 24% in One Year

The report also sheds light on the bustling trading activity, with an average daily trading volume of 3.6 trillion Korean won across 22 virtual asset exchanges. This marks a notable 24% surge compared to the previous year, underlining the burgeoning interest in crypto investments.

Notably, the dominance of Bitcoin in global exchanges contrasts sharply with its subdued presence in Korean markets, accounting for a mere 27.5% of trading. Altcoins, particularly Ripple (XRP) and Ethereum, carve out significant shares of the domestic trading landscape, with Dogecoin and Ethereum Classic following suit.

Crypto Dominance: Korea’s Rise as a Trading Powerhouse

Korea’s position as a leading hub for crypto trading is further solidified by recent milestones, such as the Korean won surpassing the US dollar in trading volume. The political sphere also mirrors the crypto fervor, with major parties leveraging crypto-related promises to sway voters, from vows to defer digital asset taxes to pledges to ease restrictions on ETFs.

As the crypto narrative continues to grip the nation, Korea emerges as a vibrant ecosystem, pulsating with diverse investor profiles and fueled by an insatiable appetite for digital assets.

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