South Korea is becoming a hub of domestic cryptocurrency usage. A recent study on SK reveals that 9.6 million residents in the region are using digital assets for domestic usage by 2024.
Published reports say that the adoption rate has increased by 52.6% over time, which clearly mirrors the growth of such products in South Korea.
The older generation is leading the charge of adoption in South Korea
The study boldly quotes that the rate of adoption is much higher than the adoption among the younger generation, with one in four crypto users in South Korea being the ones older than 50.
It is worth noting that the report has been compiled by a member of a domestic party in South Korea and as a data source, information from Upbit, Bithumb, Coinone, Korbit, and Gopax.
Earlier in 2024, it was reported that the number of people investing in crypto had also increased, and the revenue of the nation’s crypto market had reached a new high.
The number of crypto investors above the age of 50 has grown to a new height, demonstrating crypto’s popularity among the older generation due to market strategies and its global accessibility.
Experts say that this new trend among the older generation has now changed the perspective that crypto is popular among the younger generation due to its newness.
Few published reports claim that the growing popularity of digital assets among South Koreans is because of the technology-savvy ecosystem developed in the nation, and one other reason is the accumulation of wealth with the older generation, which creates an opportunity for them to invest in high-risk high-income products such as cryptocurrencies.
Since early 2025, South Korea’s crypto market cap has been $68.06 billion, which is up by 27% from the middle of 2024, making it the 9th nation with the highest adoption worldwide.
In terms of crypto adoption, countries like the United Arab Emirates, Vietnam, the United States, Iran, Singapore, Saudi Arabia, Ukraine, Nigeria, India and Thailand.
Crypto market price updates
Until publishing, the crypto market cap was $2.85 trillion, with a loss of 1.20% in the past 24 hours, and the volume of the market was $79.54 billion, with a surge of 10.33%.
Bitcoin added 5.62% to its price in the past 7 days, and in the monthly time frame, its prices are down by 9.08% and, at the same time, up by 29.28%; data available CoinMarketCap states that the intraday gainer has been ruled by Cronos, Berachain, Four, Story and Ethena.
At the same time, the list of losers has been topped by Kaspa, PI, NEO, Nexo, Aave, and Official Trump.
