Its South Korea government now wants to take steps to prevent crypto craze in the country. It seems that cryptocurrency has been estimated. This is a huge part of their numbers, which largely determines these values of cryptocurrency in the world.
How large is South Korea’s influence in the crypto world?
This South Korea population is not more than California and Arizona. It is believed that after the US and Japan, South Korea has the world's largest market for cryptocurrencies.
Source - https://cointelegraph.com/explained/south-korea-and-crypto-regulations-explained