It is reported that a significant portion of the Korean population is investing in cryptocurrency.
Yonhap News reported that the number of cryptocurrency holders on Korean exchanges exceeded 15.59 million in November, up 610,000 from 14.98 million in October, citing new central bank data provided by the office of Democratic Party lawmaker Lim Gwang-hyun.
The figure based on the number of investors holding accounts in Korea’s five major exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax, accounts for more than 30% of the approximately 51.23 million people residing in East Asian countries. .
The report said the number of cryptocurrency investors is increasing as a result of market optimism following the victory of US President-elect Donald Trump, who has pledged to support the virtual asset industry.
The number of domestic cryptocurrency investors increased by about 100,000 per month to 14.74 million in July, 14.82 million in August, 4.88 million in September, and 14.98 million in October.
Total cryptocurrency holdings also increased from 586 trillion won in July to 102.6 trillion won in November. The average daily transaction amount also surged from 2.9 trillion won in July to 14.9 trillion won in November.
CEO Lim said that the scale of cryptocurrency trading is quickly approaching a level comparable to that of the stock market.
“Preparation at all levels of government is necessary to increase the stability of the virtual asset market and establish sound market transactions that protect user rights and interests.”
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