- Over 30% of South Koreans now spend money on crypto, with 15.59M holders in November.
- Crypto buying and selling quantity in South Korea now rivals inventory markets, with each day trades hitting 14.9 trillion received.
- iDEGEN, an AI-powered coin that has raised $8.7M in its ongoing presale, is capturing traders’ consideration.
In accordance with a current report, South Korea’s cryptocurrency market is booming, with over 30% of the inhabitants now investing in digital property. The variety of crypto holders just lately surpassed 15 million, fueled by optimism following Donald Trump’s US presidential election victory.
Amid this surge, a brand new cryptocurrency, iDEGEN, has captured the eye of traders, due to its modern pricing mannequin and AI integration. Right here’s a better have a look at the traits reshaping the market.
South Korea’s cryptocurrency increase: details and figures
In accordance with knowledge from the Financial institution of Korea, over 15.59 million people in South Korea held crypto property by the tip of November 2024, marking a rise of 610,000 traders from the earlier month.
This rise coincided with a broader market surge, partly attributed to renewed optimism following the US election outcomes.
With a inhabitants of roughly 51.7 million, this implies greater than 30% of South Koreans at the moment are engaged within the crypto market.
This knowledge was gathered below the Digital Asset Person Safety Act, which went into impact in July 2024. This act mandates that exchanges safeguard customers’ property, making certain transparency and fostering belief within the digital foreign money ecosystem.
Key metrics underline this explosive progress. Amongst them, the entire crypto holdings surged to 102.6 trillion received (round $78 billion) in November, a pointy rise from 58 trillion received in October. Common holdings per individual additionally climbed to six.58 million received, whereas deposits on exchanges almost doubled, reaching 8.8 trillion received.
Buying and selling exercise has been equally spectacular, with each day transaction volumes on the nation’s high 5 exchanges—Upbit, Bithumb, Coinone, Korbit, and Gopax—hitting 14.9 trillion received rivalling South Korea’s inventory markets.
The rise in Bitcoin (BTC) costs additionally performed a pivotal position on this increase. By November’s finish, Bitcoin’s worth had jumped from 105 million received to 135.8 million received, attracting new traders and boosting confidence out there’s potential.
Amid South Korea’s crypto affinity, this memecoin has been making waves
Whereas established cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) dominate headlines, a newcomer, iDEGEN (IDGN), has emerged as a compelling possibility for traders in search of high-growth alternatives.
Launched in November 2024, this AI-powered meme coin has raised over $8.9 million in its ongoing presale and has offered over 1.1 billion IDGN tokens, producing important buzz inside the crypto neighborhood.
What units iDEGEN aside is its dynamic presale pricing mannequin, a characteristic hardly ever seen in conventional token launches.
The coin’s worth adjusts each 5 minutes based mostly on market exercise—rising by 5% with consecutive purchases and dropping by 5% during times of inactivity. This mechanism not solely incentivizes engagement but in addition introduces a stage of unpredictability, making the coin significantly interesting to adventurous traders.
As well as, iDEGEN integrates synthetic intelligence (AI), which additional enhances its attraction. The challenge’s AI leverages neighborhood suggestions on X (previously Twitter) to refine its growth and utility. This adaptive method indicators that iDEGEN is extra than simply one other meme coin; it’s a challenge with potential for long-term progress and real-world utility.
With the presale set to conclude on January 1, 2025, with an anticipated itemizing worth 10% larger than the ultimate presale worth, early adopters stand to realize considerably.
As modern tasks like iDEGEN seize investor consideration, the way forward for South Korea’s crypto panorama seems to be more and more vibrant and promising.
