Following Donald Trump's victory in the US presidential election, the number of cryptocurrency holders in South Korea has increased significantly.
According to local media, the country saw an increase of 610 crypto investors last month. South Korea's Democratic Party spokesman Lim Kwang-hyun said the number had exceeded 000 million by the end of November. That's how many users are registered on the five largest Korean exchanges. Upbit , Bithumb, Coinone, Korbit and Gopax.
That's more than 30% of South Korea's population, which currently stands at 51,7 million.
Current Status of South Korean Cryptocurrency Market
This is the first time that statistics related to digital assets have appeared in local media. Yonhap News reported that they were collected in accordance with new regulations on crypto exchanges that were adopted by the government in July this year.
In addition to the number of cryptocurrency investors, the data also showed that South Koreans hold nearly 102,6 trillion won ($70,3 billion) worth of digital assets. The media reported that such a record volume of cryptocurrency transactions could seriously threaten the local stock market.
