As of the end of February 2025, there are 16.29 million registered users on the five largest cryptocurrency exchanges in South Korea, exceeding 32% of the country’s population. This number already surpasses the number of investors in the stock market, which stands at 14.03 million.
This is reported by Business • Media
Upbit remains the leader in terms of active accounts, with 9.82 million registered users. It is projected that by the end of March 2025, their number will exceed 10 million. Other platforms rank as follows: Coinone — 3.2 million, Bithumb — 2.36 million, Korbit — 770,000, and GOPAX — 150,000.
Sharp Increase in Interest in Cryptocurrencies
National Assembly member Cha Gyu-gin noted that the statistics account for duplicate accounts, as many users register on multiple platforms. However, despite this, the growth in interest in digital assets is evident. Over the year, the number of investors has increased by more than 2.6 million.
A particularly sharp jump in users was observed in November 2024 following Donald Trump’s victory in the U.S. elections. Against the backdrop of his support for the crypto industry in the United States, the number of investors in South Korea began to grow by more than 500,000 users per month. Some analysts predict that this figure could soon reach 20 million.
Decline in Interest in the Traditional Stock Market
In contrast to the crypto market, the traditional stock market is showing a decline in interest in the country. The number of investors in securities exchanges decreased from 14.24 million in 2022 to 14.03 million in 2023, remaining lower than the figures for the crypto market.
“The growth in interest in digital assets is evident,” said member Cha Gyu-gin.