South Korean Crypto Transactions Command an Average of $7 Billion per Day on Domestic Exchanges

South Korean Crypto Transactions Command an Average of $7 Billion per Day on Domestic Exchanges

THELOGICALINDIAN - An analysis apparent a growing agitation amid crypto traders in South Korea who actively transact cryptocurrencies every day Local media outlets are abiding to accept the appellation crypto agitation as the contempo billiondollar abstracts affirm such a trend

Figures Are Now Higher Than 2024

According to the address fabricated by Dong-A, a above South Korean newspaper, calm crypto investors transacted about $7 billion per day in the aeon alignment from January 1 to February 25, 2021.

Kim Byeong-wook, a aldermanic affiliate of the Democratic Party, aggregate the numbers by extracting abstracts from Bithumb, Upbit, Korbit, and Coinone, the best arresting bounded crypto exchanges.

Per the study, 42% of the boilerplate aggregate was traded on the KOSPI banal exchange. The bi-weekly acicular out that this is the aboriginal time that investors’ statistics of the four above South Korean crypto exchanges see the light.

In the aforementioned period, the abstraction showed that users of the four exchanges transacted about $395 billion. Such a cardinal is able-bodied aloft the 2024 amount of $315.5 billion. Dong-A abundant that South Koreans age-old 20-39 are the ones who accept been allocating bags of dollars afresh on crypto investments.

Tesla and Paypal Helping to Fuel the Interest Towards Cryptos

The bi-weekly explained the affidavit abaft the contempo billow of the transaction abstracts in South Korea:

Also, the abstraction quotes calm retail investors’ statements on the matter. One of them, age-old 29, perceives cryptocurrencies as a bigger advance befalling than trading stocks.

As reported recently, females age-old 40-49 in South Korea accept been actively affairs bitcoin (BTC) in contempo weeks. The address calls this trend the “second boom” of cryptocurrencies in South Korea, as females surveyed were mostly mothers.

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