The total assets held by South Korea's local virtual asset exchanges have exceeded 100 trillion won for the first time in history. The office of Democratic Party member Kim Hyun-joong recently revealed that the total assets of virtual assets and user deposits held by South Korea's five major virtual asset exchanges (Upbit, Bithumb, Coinone, Korbit, Gopax) reached 115,726.7 billion won by the end of November, a record high. Compared with the level of 65 trillion won at the end of October, it increased by about 50 trillion won in just one month.
Analysis pointed out that this increase was due to the sharp rise in cryptocurrency prices and a surge in trading volume after Trump won the presidential election. However, experts warned that many of the currencies listed on South Korean exchanges are for speculative demand, and investment should be cautious. (Daily Economic News)