Record Number of Crypto Exchange Users in South Korea
The number of cryptocurrency exchange users in South Korea has surpassed 16 million, with a significant increase following former U.S. President Donald Trump’s election victory last November.
Record Number Of Crypto Exchange Users In South Korea
According to data provided by Representative Cha Gyu-geun of the minor opposition Rebuilding Korea Party, as of March 30, more than 16 million South Koreans had cryptocurrency exchange accounts, accounting for over 30% of the country’s total population of 51.7 million. This information was cited from Yonhap News Agency.
The data was collected from South Korea’s five largest cryptocurrency exchanges: Upbit, Bithumb, Coinone, Korbit, and Gopax. Notably, individuals with multiple accounts were counted only once.
Industry experts predict that the number of crypto investors could reach 20 million by the end of the year. An anonymous official told Yonhap:
“Some believe that the cryptocurrency market has reached saturation, but compared to the well-established stock market, this sector still holds immense growth potential.”
Following Trump’s election victory in November last year, the number of cryptocurrency users surged by over 600,000, bringing the total to 15.6 million. Collectively, they held 102.6 trillion won (approximately $70.3 billion) in crypto assets.