South Korea has seen cryptocurrency trading activity fall to around one-tenth of stock market levels as investors shift toward equities during the country’s strong KOSPI rally. Data showed combined trading volume across major exchanges including Upbit, Bithumb, Coinone, Korbit, and Gopax reached only 8% of KOSPI trading volume in May. The figure marks a major decline from December 2024, when crypto trading volume briefly exceeded stock market activity following the post-election crypto rally in the United States. Markets are now watching whether weaker retail participation signals a longer-term cooling in South Korea’s once-dominant crypto trading environment.
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