- Greater than 30% of South Koreans at the moment are investing in cryptocurrencies, with 15.59 million in November.
- Cryptocurrency buying and selling quantity in South Korea now rivals the inventory markets, with every day trades reaching 14.9 trillion received.
- iDEGEN, an AI-powered coin that raised $8.7 million in its ongoing presale, is attracting investor consideration.
In keeping with a current report, South Korea's cryptocurrency market is booming, with greater than 30% of the inhabitants now investing in digital belongings. The variety of cryptocurrency holders just lately surpassed 15 million, boosted by optimism following Donald Trump's victory within the US presidential election.
Amid this surge, a brand new cryptocurrency, iDEGEN, has caught the eye of traders because of its revolutionary pricing mannequin and AI integration. Right here's a better take a look at the tendencies reshaping the market.
Cryptocurrency increase in South Korea: details and figures
In keeping with information from the Financial institution of Korea, greater than 15.59 million people held crypto belongings in South Korea by the tip of November 2024, a rise of 610,000 traders from the earlier month.
The rise coincided with a broader market rally, partly attributed to renewed optimism following the US election outcomes.
With a inhabitants of roughly 51.7 million, which means greater than 30% of South Koreans at the moment are concerned within the crypto market.
This information was collected underneath the Digital Asset Person Safety Act, which went into impact in July 2024. This regulation mandates the trade to guard customers' belongings, guarantee transparency, and strengthen belief within the digital forex ecosystem.
Key metrics underline this sharp progress. Amongst them, complete cryptocurrency holdings rose to 102.6 trillion received (round $78 billion) in November, up from 58 trillion received in October. Common holdings per individual additionally climbed to six.58 million received, whereas inventory market deposits almost doubled to eight.8 trillion received.
Buying and selling exercise was equally spectacular, with every day transaction volumes on the nation's 5 largest exchanges – Upbit, Bithumb, Coinone, Korbit and Gopax – reaching 14.9 trillion received, rivaling South Korea's inventory markets.
The rise in Bitcoin (BTC) costs additionally performed a pivotal function on this increase. By the tip of November, the value of bitcoin jumped from 105 million received to 135.8 million received, attracting new traders and boosting confidence available in the market's potential.
Amid crypto affinity in South Korea, this memecoin is making waves
Whereas established cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) dominate the headlines, newcomer iDEGEN (IDGN) has emerged as a compelling possibility for traders searching for excessive progress alternatives.
Launched in November 2024, this AI-powered meme coin raised greater than $8.9 million in its ongoing presale and bought greater than 1.1 billion IDGN tokens, producing appreciable buzz within the crypto group.
What units iDEGEN aside from others is its dynamic pre-sale pricing mannequin, a characteristic not often seen in conventional token choices.
The coin's worth is adjusted each 5 minutes based mostly on market exercise – rising by 5% with consecutive purchases and falling by 5% during times of inactivity. This mechanism not solely stimulates engagement, but additionally introduces a degree of unpredictability that makes the coin significantly engaging to adventurous traders.
As well as, iDEGEN integrates synthetic intelligence (AI), additional enhancing its enchantment. The mission's AI makes use of group suggestions on X (previously Twitter) to enhance its improvement and usefulness. This adaptive method alerts that iDEGEN is extra than simply one other meme coin; it's a mission with potential for long-term progress and real-world software.
With the pre-sale ending on January 1st, 2025, with an anticipated record worth 10% increased than the ultimate pre-sale worth, early adopters will achieve considerably.
With revolutionary initiatives like iDEGEN attracting the eye of traders, the way forward for South Korea's crypto scene is trying more and more vibrant and promising.
