South Korea’s crypto scene is booming! Investor numbers are projected to skyrocket to 9.66 million in 2024, marking a significant surge of over 50% compared to last year.

Interestingly, older generations are increasingly joining the crypto wave. Around one in four crypto investors in South Korea are now over 50. Even more striking, almost half of the country’s high-net-worth crypto investors, holding assets exceeding KRW, are in this 50+ age bracket.

Fresh data, obtained by Democratic Party lawmaker Ahn Do-jae from five major South Korean crypto exchanges – Upbit, Bithumb, Coinone, Korbit, and Gopax – reveals the scale of this growth. By the close of 2024, these exchanges boasted an impressive 9,667,023 trading accounts. This jump represents a substantial 52.6% increase from the previous year, with a whopping 3,333,439 new investors entering the market.

With this explosive growth, lawmaker Ahn Do-jae stressed the urgent need for investor protection. He stated that, “A minimum regulatory framework should be implemented as soon as possible to protect investors,” emphasizing the importance of timely regulations.

In other news, Bithumb, South Korea’s second-largest crypto exchange, just announced the listing of the Across Protocol (ACX) KRW trading pair earlier today.

*This is not investment advice.