Peter Todd

Bitcoin ETF

Bitcoin

Ethereum Classic

The number of crypto investors increased in South Korea, along with the profitability of the country’s digital asset exchanges.
South Korean crypto investors stood at 7.78 million in the first half of 2024, a 21% increase from the second half of 2023 when the country saw 6.45 million digital asset investors.
The expanding number of investors has pushed the cumulative operating profits of the top 21 local <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/centralized-vs-decentralized-crypto-exchanges" rel="" target="_self" text="null" title="https://cointelegraph.com/learn/centralized-vs-decentralized-crypto-exchanges">centralized exchanges (CEXs)</a> to more than 5,900 billion won, or $4.2 billion, marking a year-on-year (YoY) increase of 106%, according to results from the country’s Financial Services Commission shared in local media <a data-ct-non-breakable="null" href="https://n.news.naver.com/mnews/article/469/0000830698?sid=101" rel="null" target="null" text="null" title="null">reports</a>.
Increasing retail investors are an optimistic sign for a bull market, as the new-found capital will contribute to the continued price appreciation of the top cryptocurrencies like Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) and Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="null" target="null" text="null" title="null">ETH</a>).
<figure>
 <img alt="South Korea’s crypto investor surge drives CEX profits by 106%" src="https://s3.cointelegraph.com/uploads/2024-10/0192e1af-713c-7d25-9f83-a96bbffc2e21" title="">
 <figcaption style="text-align: center;">
 BTC/USD, 1-month chart. Source: Cointelegraph
 </figcaption>
</figure>
Bitcoin nearly hit an all-time high in anticipation of the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/us-elections" rel="null" target="null" text="null" title="null">US presidential elections</a>. On Oct. 29, Bitcoin was just $200 away from a record high after BTC rose above <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-hits-73-6-k-as-fundamentals-suggest-new-all-time-highs-are-programmed" rel="null" target="null" text="null" title="null">$73,600</a>, the highest level since March 2024.
Still, some analysts say that Bitcoin’s current price action is <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-trump-hedge-macroeconomic-all-time-high" rel="null" target="null" text="null" title="null">a “Trump hedge”</a> that lacks the fundamental macroeconomic conditions to push the world’s first cryptocurrency to new highs.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/blackrock-bitcoin-etf-breaks-30-b-etfs1-m-btc-holdings" rel="null" target="null" text="null" title="null">BlackRock Bitcoin ETF breaks $30B; US ETFs set to hit 1M BTC holdings</a>
<h2 id="south-korean-crypto-investors-average-portfolio-is-below-400">South Korean crypto investors’ average portfolio is below $400</h2>
More than 68% of South Korea’s crypto investors are males, with the largest subset being males over 30, who make up 5.28 million of the country’s investors.
South Korea has just 850,000 male investors over the age of 50.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/stacks-asia-hex-trust-bitcoin-defi-opportunity" rel="null" target="null" text="null" title="null">Stacks Asia partners with HEX Trust for $180B Bitcoin DeFi opportunity</a>
Still, the average crypto allocation of South Korean investors remains modest. More than 5.28 million, or 67% of all investors, held less than $362 worth of crypto in their portfolios.<iframe width="100%" height="315" src="https://www.youtube.com/embed/tthVp0Vascs" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
Harris vs. Trump 2024: What’s at Stake for the Crypto Market? Source: YouTube
Conversely, only 10%, or 780,000 South Korean investors, held more than $7,254 worth of digital assets.
Looking at the largest holding of South Korean investors, over 37% was in Bitcoin, 11% in Ether, 10.6% in the XRP (<a data-ct-non-breakable="null" href="https://cointelegraph.com/xrp-price-index" rel="null" target="null" text="null" title="https://cointelegraph.com/xrp-price-index">XRP</a>) token, 2.8% in Dogecoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/doge-price-index" rel="null" target="null" text="null" title="https://cointelegraph.com/doge-price-index">DOGE</a>) and 2.7% invested in Ethereum Classic (<a data-ct-non-breakable="null" href="https://cointelegraph.com/etc-price-index" rel="null" target="null" text="null" title="https://cointelegraph.com/etc-price-index">ETC</a>).
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/microsoft-bitcoin-vote-peter-todd-satoshi-bitfinex-wallet-hack-hodlers-digest/" rel="null" target="null" text="null" title="null">Microsoft set to vote on Bitcoin, Peter Todd hiding, and more: Hodler’s Digest, Oct. 20–26</a>&nbsp;

South Korea’s crypto investor surge drives CEX profits by 106%

Table of Contents

Cointelegraph

Other articles published on Oct 31, 2024

FTX Settles $228M Lawsuit with Bybit, Aims for $175M Recovery

Best 3 Altcoins to Invest in Now Before Crypto Prices Explode in November

Gora Network announces the implementation of its oracles in Base Mainnet

Suilend Launches SpringSui to Revolutionize Liquid Staking on Sui Network

Tether Reveals Company Asset Reserves Amid Scrutiny

Roblox growth has surged to 88 million users, but is it safe for kids?

Join our free newsletter for daily crypto updates!