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South Korea Sees Crypto Boom: Over 30% of Population Joins Top Exchanges
In a shocking turn of events, South Korea has seen an unprecedented surge in cryptocurrency adoption, with over 30% of the population now actively participating on top exchanges. This remarkable growth is largely attributed to increased market activity sparked by U.S. President-elect Donald Trump’s pro-crypto policy statements.
According to a report released by the Bank of Korea, created under the Virtual Asset User Protection Act, an astonishing number of South Koreans – over 15.59 million to be exact – have opened accounts on the nation’s top five crypto exchanges, including Upbit, Bithumb, Coinone, Korbit, and GOPAX.
Notably, Bitcoin prices reflected this enthusiasm, climbing from approximately 105 million won in late October to a staggering 135.8 million won by November. This marked a significant turnaround, indicating that the South Korean market is not only recovering but also showing unprecedented resilience in the face of recent market volatility.
South Korea’s rapid growth in cryptocurrency adoption highlights its evolving role as a major player in the global crypto space. The country’s remarkable growth can be attributed to the pro-crypto stance adopted by the government, which has led to a significant increase in mainstream awareness and adoption of digital assets.
This unprecedented surge is set to have far-reaching implications for the global crypto market, with South Korea poised to become a major driver of growth and innovation in this space.
Source: coinpedia.org
