According to reports, a significant portion of South Korea’s population is investing in cryptocurrencies.
Citing new central bank data provided by Democratic Party Rep. Lim Kwang-hyun’s office, Yonhap News Agency reports that the number of people holding cryptocurrencies on South Korean exchanges exceeded 15.59 million in November Increase of 610,000 from 14.98 million in October.
The figures, based on the number of investors who have accounts on the top five domestic exchanges, including Upbit, Bithumb, Coin One, Cobit and Gopax, represent more than 30% of the estimated 51.23 million people in the East Asian region country living.
According to the report, the number of crypto investors has likely increased due to market optimism following the victory of US President-elect Donald Trump, who has promised to support the virtual assets industry.
The number of domestic crypto investors increased by 14.74 million in July, 14.82 million in August, 4.88 million in September and 14.98 million in October, or around 100,000 per month.
Total crypto holdings also rose from 586 trillion won ($398.48 billion) in July to 102.6 trillion won ($69.768 billion) in November. The amount of…
