South Korea’s Crypto Craze: 6 Million Investors and the Rise of Centralized Exchanges (Survey)

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South Korea’s Crypto Craze: 6 Million Investors and the Rise of Centralized Exchanges (Survey)
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South Korea has emerged as a global hotspot for cryptocurrency investment in recent years, according to a recent survey, with six million crypto investors representing over 10% of the country’s total population.conducted by the Korea Financial Intelligence Unit , the number of crypto investors in the country is projected to reach approximately six million in the first half of 2024, representing over 10% of the country’s total population.

These Korean exchanges have maintained trading volumes at around 10% compared to Binance and have even exceeded Coinbase’s numbers, underscoring their growing influence in the international market. Bithumb, the second-largest exchange, maintains a strong position with a market share of 15% to 20%. The market share of Coinone and Korbit is relatively limited.. Loom Network recorded the highest trading volume among Korean investors, with a ratio of 62%, followed by eCash at 55% and Flow at 43%.

Although trading volumes for BTC and ETH on Upbit make up a small proportion of the total, Coinbase, a major U.S. cryptocurrency exchange, holds a significant share of volume in these cryptocurrencies.Google’s Swift Move Towards Web3 Adoption: Advancements and ImplicationsSix Important Considerations for the Ethereum Price Going in Q4 2023

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