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MICA Daily | South Korean Central Bank: Cryptocurrency adoption rate soaring, number of investors surged by 610,000 in November
According to the statistics report from the Central Bank of Korea, the Crypto Assets market in Korea will rise significantly in 2024, with over 15.5 million Korean citizens holding encryption assets, accounting for approximately 30% of the total population. In November 2024 alone, there were 610,000 new investors, mainly due to the big pump of BTC after Trump's victory, attracting many investors to enter the Crypto Assets market.
According to a report from the Central Bank of Korea, the total value of cryptocurrency holdings at the end of November reached $69 billion, nearly doubling from $39 billion in October. The average amount held per person also increased from $2,655 in October to $4,400 in November. The daily trading volume reached an average of $10.2 billion, which is almost equivalent to the trading volume of the main stock market in Korea.
It is expected that after the impeachment and political dynamics in South Korea in December, the trading volume of encryption coins may have exceeded that of the stock market. South Korean Congressman Lin Guangxian stated that the trading volume of cryptocurrencies is rising rapidly and government regulation needs to be strengthened at the government level to stabilize the market and protect user rights and interests. However, the surge in demand for cryptocurrencies in South Korea is not only due to price increases, but also due to political turmoil and the depreciation of the Korean won.
Disclaimer: The article represents the author's personal views and opinions, not the views and positions of Blockgeek. All content and views are for reference only and do not constitute investment advice. Investors should make their own decisions and trades, and the author and Blockgeek will not be responsible for any direct or indirect losses incurred by investors in their transactions.
〈MICA Daily|South Korea Central Bank: Cryptocurrency adoption rate soars, number of investors surges by 610,000 in November〉This article was first published in Blocktempo.