South Koreans appetite for cryptocurrencies on the rise: Defies crypto bear market
- The regular investor in South Korea has $6,100 worth of digital assets.
- Most of the investors in the country are in their 40s and 50s.
The crypto community in South Korea appetite for digital assets is on the rise in spite of the down trending market. A report that took account of the last 12 months indicates that the residents of the nation have not slowed down and keep buying the dip.
The report also adds that the number of investors rose from 6.4% to 7.4% in South Korea. Investment went higher by 64.2% all through the last 12 months. The average amount put into the cryptocurrency market by the regular investor was put at $6,100 representing a double growth from the levels recorded in 2018. The report said that most of the investors in the country are in their 40s and 50s.
The study was carried out across the six largest cities in South Korea and focused on investors between 25 and 64 years old. However, there has been a decrease in the number of investors from 2017. At the time, close to 30% of all salaried workers had bought into cryptocurrencies where most made gains in the excess of 400%.
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
