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South Korea’s crypto market skyrocketed in the first half of 2024, with 7.8 million investors and daily trading volumes rising by 67% to $4.4 billion. 
Korea’s crypto market has seen a significant expansion in the first half of 2024, driven by a surge in Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>) prices and growing investor interest. The number of crypto investors in South Korea rose to 7.8 million, up 21% from 6.45 million in the second half of 2023, South Korean daily newspaper Hankook Ilbo <a href="https://n.news.naver.com/mnews/article/469/0000830698?sid=101" target="_blank" rel="nofollow">reports</a>, citing data from the Financial Intelligence Unit of the Financial Services Commission. 
Daily trading volumes also skyrocketed, climbing 67% to $4.4 billion, while the market capitalization reached approximately $40 billion, reflecting a 27% increase. The surge appears to be also fueled by Bitcoin’s <a href="https://crypto.news/bitcoin-bullish-sentiment-is-loud-and-clear-analyst-says/" target="_blank">recent rally</a>, which saw prices surpass $73,000, reigniting interest in cryptocurrencies. 
 You might also like: <a rel="" href="https://crypto.news/south-korean-regulator-to-review-crypto-etf-approval-report/"> South Korean regulator to review crypto ETF approval: report </a> 
Demographically, male investors in their 30s comprise the largest segment, totaling 1.58 million, followed by those in their 40s (1.5 million) and under 30 (1.08 million). Male investors represent 68% of the overall market, the report reads, adding that 67% of investors hold crypto worth less than $375, while approximately 10% maintain portfolios exceeding $7,500. Only 1.3% possess assets over $75,000. 
In response to these market dynamics, South Korea plans to tighten regulations, introducing measures for enhanced oversight of trading activities. As crypto.news <a rel="" href="https://crypto.news/south-korea-to-monitor-cross-border-trades-with-crypto/">reported</a> earlier, the government is considering regulations that would require firms engaged in cross-border crypto trading to register with authorities and report their monthly transaction details to the Bank of Korea, the nation’s central bank. 
 Read more: <a rel="" href="https://crypto.news/korea-eyes-fx-rules-for-stablecoins-used-in-cross-border-trade-report/"> Korea eyes FX rules for stablecoins used in cross-border trade: report </a>

Korean crypto investors reach 7.8m amid 27% market cap increase: report

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