Crypto Investors Grow in South Korea with Digital Asset Exchange Profits!

The number of crypto investors in South Korea has increased this year. The first half of this year saw a significant increase in the number of South Korean crypto investors. Even with that, the profit margin of the country's digital asset exchange has also increased. Which is much more than last year and can be said to have increased by a quarter. The country saw 6.45 million digital asset investors this year as the number of new investors increased in the country. More than 68% of crypto investors in South Korea are men, with the largest subset being men over 30, who make up 5.28 million of the country's investors.

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The increasing number of investors has increased and so has the amount of profit. Even investors that currently have regulations on digital assets in the country pushed the cumulative operating profit of the country's top 21 local centralized exchanges (CEXs) to more than 5,900 billion won, or $4.2 billion. As a result, the country's annual profits have increased by more than 1 percent, according to a report released by the country's Financial Services Commission.

Coming to the current time many investors are entering the market especially the US election and Bitcoin is slowly accumulating half the year. As we saw yesterday, Bitcoin price was trading just $200 below its all-time high. However, today the price of Bitcoin has dropped again and is currently trading around $69,000. The rise of retail investors is an optimistic sign for a bull market. Because the newly found capital will contribute to the continued price growth of top cryptocurrencies like Bitcoin. Moreover, the US presidential election is in the next few days. And after the US election, Bitcoin prices are expected to make history again. Even with that hope many investors are currently investing in the market and the number is increasing not only in South Korea but pretty much everywhere.

However, many analysts are expressing mixed opinions on the current situation, and many feel that Bitcoin's current price action is a "trump hedge" that lacks the fundamental macroeconomic conditions to push the world's first cryptocurrency to new highs. The average crypto allocation of South Korean investors remains modest. At present the number of investors in the country leads to a good number of total investors. Among the largest holdings are South Korean investors with a portion in Bitcoin, Ether and XRP as well. However, such an increase in the number of investors in the market at present can be a positive news for the price of Bitcoin and will help the market to rise.