South Korea’s crypto market is booming, with over 30% of the population now owning digital assets, according to a new report. The number of crypto investors has skyrocketed to 15.59 million by the end of November, Yonhap News Agency reported, citing Democratic Party lawmaker Lim Kwang-hyun.  

This marks an increase of 610,000 investors from the previous month, likely driven by optimism following Donald Trump’s U.S. presidential election victory.  

The report revealed that South Korean investors now hold a record 102.6 trillion won ($78 billion) in crypto assets, a sharp rise from 58 trillion won in July. On average, each investor holds 6.58 million won in crypto, reflecting a substantial increase in holdings over the past few months.  

The trading activity in the crypto market has also surged. The daily trading volume on the country’s top five crypto exchanges—Upbit, Bithumb, Coinone, Korbit, and GoPax—hit nearly 15 trillion won in November. This figure is almost on par with the daily trading volume of South Korea’s stock markets, showcasing the growing popularity of digital assets.  

Despite the growth, concerns are mounting about the market’s rapid expansion. Lawmaker Lim Kwang-hyun has urged the government to ensure stability and protect consumers from potential risks. However, no concrete regulatory measures have been announced yet.  

The report does not specify which cryptocurrencies are most popular among investors, but the data highlights a shift in South Korea’s financial landscape. With increasing participation and record-breaking figures, the crypto market is becoming a significant part of the country’s economy.  

As South Korea navigates this digital financial revolution, balancing innovation and consumer protection will remain a key challenge for regulators.