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South Korea Sees Crypto Boom: Over 30% of Population Joins Top Exchanges
In a remarkable turn of events, South Korea has witnessed a significant surge in the adoption of cryptocurrencies. According to recent reports, over 30% of the population has joined top exchanges, marking a substantial boom in the country’s crypto market.
As per data released by the Bank of Korea, under the Virtual Asset User Protection Act, it appears that more than 15.59 million South Koreans have opened accounts on the nation’s leading five crypto exchanges – Upbit, Bithumb, Coinone, Korbit, and GOPAX. This remarkable growth is expected to further fuel market activity.
The rise in adoption can be attributed to several factors. One of the primary reasons is the positive sentiment generated by U.S. President-elect Donald Trump’s pro-crypto policy statements. His remarks have sparked increased interest among investors and traders, leading to a massive influx of new users into the space.
The data also suggests that Bitcoin prices have responded positively to this surge in demand, climbing from 105 million won in late October to 135.8 million won by November. This significant increase highlights South Korea’s growing influence on the global crypto market.
As a result, experts believe that this remarkable growth can potentially impact the industry’s future trajectory.
Source: coinpedia.org
