Bitcoin Surges Past 100 Million Won, Sparking Crypto Investment Surge in South Korea

According to COINOTAG, recent analysis from Korea Daily indicates a significant surge in crypto investments in South Korea, coinciding with Bitcoin’s price surpassing 100 million won as of October 31. The nation has seen a substantial uptick in crypto investors, reaching 7.78 million, marking an increase of 1.33 million since the previous half of the year. Meanwhile, the average daily trading volume has experienced a dramatic rise, escalating from 3.6 trillion won to an impressive 6 trillion won, evidencing a growth rate of 67%.

The overall market capitalization of crypto assets fueled a notable enhancement of 27%, now totaling 55.3 trillion won. South Korea’s 21 crypto asset business operators have reported a substantial operating profit of 590 billion won, reflecting a remarkable growth of 106% compared to the latter half of last year. Among these investors, 68% are male, and a survey reveals that 67% of them maintain crypto holdings of less than 500,000 won, while only 0.03%, equating to 3,500 individuals, command holdings exceeding 1 billion won.