Koreans flock to cryptos amid Trump-driven crypto craze

Quick Summary:

HIGHER TRADING VOLUME THAN KOSPI AND KOSDAQ The daily average crypto token trading volume on Korean crypto exchanges jumped to 14.9 trillion won, nearly matching the total volume of daily stock trading on the country’s top two stock exchanges – the Kospi and Kosdaq.

Betting big on the rosy outlook for the digital currency market, deposit funds sitting idle in major Korean crypto exchanges also nearly doubled to 8.8 trillion won in end-November from end-October.

Trump’s pledge to slap more taxes on imports to the US has also spooked investors away from the traditional stock markets in Korea, one of the most trade-reliant economies, and has made them search for higher returns from the volatile crypto market.

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Article Details

Category: Economy

Markets: South Korea

Topics: Country’s Exchanges Korean Million Korea Trading Crypto Month Cryptocurrency Trillion Investors

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-26 @ 11:26:59 (1 days ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 406 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 20 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 24668613

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Main Topics: Economy

Official Website: kedglobal.com

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