South Korean Crypto Market Cap Surged by 46% in H1 2023, Hitting $21

South Korea’s Financial Services Commission (SFC) revealed that the country’s crypto market cap experienced a massive surge in the first half of this year, nearly doubling.

According to the local media outlet, the total market cap climbed to 28.4 trillion won ($21.1 billion) after growing by 46% compared to the previous half-year term.

This is the same period during which the global crypto market grew substantially. The surge was led by Bitcoin, which skyrocketed by 81% at the time, causing the international crypto market cap to surge by 53% and hit 154 trillion won.

Korea JoongAng Daily also reported that operating profits of crypto companies went up to 227.3 billion won, surging by 82% during the same period. Deposits saw similar performance, rising 11% to the 4 trillion won.

🚀 South Korea's virtual asset market skyrockets! 💰 Market cap hits $21.1 billion in H1 2023, up 46% according to Financial Services Commission.