South Korea's Crypto Trading Exceeds Stock Market Volume
(MENAFN) South Korea’s cryptocurrency market has recently surpassed the trading volume of its stock exchanges, with the total market capitalization of digital assets now exceeding 100 trillion won (USD74.8 billion), based on a report by the media on Tuesday.
Although the crypto market’s market capitalization was approximately USD70.2 billion in December, it recorded nearly USD1.4 billion more in daily trading activity than the stock market, which had a market cap exceeding USD1.6 billion.
In December, the average daily trading volume on South Korean cryptocurrency exchanges reached USD12 billion, making up about 17 percent of the total market value.
This marked a significant increase in trading activity from earlier in the year, with trading volumes rising from USD2.38 billion in October to USD10.4 billion in November.
Remarkably, the daily trading volume of the crypto market in December outpaced the combined average of South Korea’s two main stock exchanges, the Korean Securities Dealers Automated Quotations and the Korea Composite Stock Price Index, which stood at USD10.7 billion.
By the end of last year, the total value of digital assets held by the five largest cryptocurrency exchanges in the country—Upbit, Bithumb, Coinone, Korbit, and GOPAX—was valued at USD73 billion, according to a 2024 report from the Bank of Korea on payment and settlement systems.
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