Rapid Expansion in South Korea's Virtual Asset Market

The second half of last year witnessed a remarkable growth in South Korea's virtual asset market, with won deposits exceeding 10 trillion won. The number of traders nearly reached 10 million, and the market capitalization saw an impressive 91% increase within just six months.

Market Dynamics and User Statistics

By the end of last year, the total market capitalization of virtual assets in domestic won-based exchanges stood at 107.7 trillion won. The average daily trading volume rose by 24% to 7.3 trillion won, and the number of eligible trading users grew by 25% to 9.7 million. Notably, won deposits surged to 10.7 trillion won, marking a 2.3 times increase from the first half.

Revenue Growth and Market Reorganization

Exchanges reported a 28% increase in operating revenue, totaling 132.4 billion won. However, a significant revenue disparity was observed, with the top five operators accounting for 93.4% of the total. The market continued to reorganize around the won market, which now represents 92.3% of the total market capitalization.