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South Korea’s cryptocurrency market surges with rapid growth in November
(MENAFN) South Korea’s cryptocurrency market saw significant growth in November, with trading volumes approaching those of the stock market. The total number of cryptocurrency accounts in the country surpassed 15 million, driven by a strong bull run fueled by the pro-crypto stance of the US President-elect.
According to data from the Bank of Korea submitted to Rep. Lim Kwang-hyun of the Democratic Party, the number of crypto accounts rose to 15.59 million in November, nearly one-third of the country’s population. This marked an increase of 610,000 accounts compared to October.
The surge in crypto activity comes as bitcoin, the leading cryptocurrency, reached new highs. After briefly dipping below USD70,000 just before the US presidential election, bitcoin’s price soared by up to 50 percent over the past month, following the election victory of President-elect Trump.
The number of virtual asset investors in South Korea has steadily increased by around 100,000 each month, rising from 14.74 million in July to 14.98 million in October.
According to data from the Bank of Korea submitted to Rep. Lim Kwang-hyun of the Democratic Party, the number of crypto accounts rose to 15.59 million in November, nearly one-third of the country’s population. This marked an increase of 610,000 accounts compared to October.
The surge in crypto activity comes as bitcoin, the leading cryptocurrency, reached new highs. After briefly dipping below USD70,000 just before the US presidential election, bitcoin’s price soared by up to 50 percent over the past month, following the election victory of President-elect Trump.
The number of virtual asset investors in South Korea has steadily increased by around 100,000 each month, rising from 14.74 million in July to 14.98 million in October.
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