South Korea Witness Surge in Crypto Investors, Exceeding 15 Million in November

According to recent statistics, more than 15.5 million South Koreans currently own cryptocurrencies on local exchanges, reflecting the country’s growing interest in the technology. The central bank’s statistics, which Democratic Party Representative Lim Kwang-hyun published, shows that South Korea’s cryptocurrency investor count has increased dramatically, rising by 610,000 between October and November.

Rapid Growth in Crypto Investment

According to the most recent data, as of November, 15.59 million people held accounts on popular South Korean exchanges, including Upbit, Bithumb, Coin One, Cobit, and Gopax. This amounts to over 30% of the estimated 51.23 million people that live in South Korea. Growing market optimism, particularly after the election of U.S. President-elect Donald Trump, who has voiced support for the cryptocurrency industry, is the reason for the increase in cryptocurrency investors.

From July to November, the number of investors continued to climb. The figures reflect a steady monthly increase, with 14.74 million in July, 14.82 million in August, 14.88 million in September, and 14.98 million in October. As the number of investors grew, so did the total value of holdings. In July, the total crypto holdings amounted to 586 trillion won ($398.48 billion), while by November, this had grown to 102.6 trillion won ($69.768 billion). Daily transaction volumes have also surged, from 2.9 trillion won ($1.972 billion) in July to 14.9 trillion won ($10.132 billion) in November.

Rep. Lim Kwang-hyun emphasized that the crypto market is now approaching the scale of the traditional stock market in terms of transaction volume. He stressed the importance of preparing regulatory measures to ensure market stability and protect investors’ rights.

“As the scale of crypto asset transactions expands, it is crucial for all governments to focus on improving the stability of the virtual asset market and creating a secure environment for users,” Lim stated.

The continued rise in crypto investment in South Korea signals a shift toward a more robust digital asset market, raising the need for regulatory clarity and protective measures for investors.