South Korea’s daily cryptocurrency trading volume now exceeds stock markets, with digital asset market capitalisation over 100 trillion won ($74.8 billion). In December, daily trading reached $12 billion, up from $2.38 billion in October. Factors such as supportive US policies and new regulations contribute to heightened investor optimism in the crypto sector.
Recent reports indicate that South Korea has witnessed a significant shift in its financial trading landscape, with daily cryptocurrency trading volumes now exceeding those of its stock markets. Specifically, the total market capitalisation of digital assets has surpassed 100 trillion won (approximately $74.8 billion), as outlined by Chosun Daily.
Throughout December, the cryptocurrency market experienced a trading volume rise to $12 billion daily, representing about 17% of its total holdings. This figure far outpaced stock market activity, where the average daily trading volume stood at around $10.7 billion.
The surge in cryptocurrency trading is particularly notable considering that in October, daily trading figures were only at $2.38 billion, climbing dramatically to $10.4 billion in November. Coincidentally, the total digital asset value held by South Korea’s five leading exchanges—Upbit, Bithumb, Coinone, Korbit, and GOPAX—amounted to $73 billion by year-end.
Several factors have contributed to this market boom, such as the re-election of US President Donald Trump, known for his pro-cryptocurrency stance, alongside the EU’s introduction of Markets in Crypto-Assets regulations and the advent of spot crypto ETFs in global markets like Hong Kong and the US. This dynamic landscape has considerably bolstered investor confidence.
November marked a milestone for South Korea’s crypto market, with capitalisation reaching over $70 billion, nearly doubling from $40.7 billion just a month earlier.
