South Koreas crypto market soars to $21.1 billion in H1
crypto Ang crypto market ng South Korea ay tumaas sa $21.1 bilyon sa H1 44 minuto ang nakalipas Balita ng Ethereum ng Bitcoin South Koreas digital asset market has seen remarkable growth in the first half of 2023, with its total market capitalization hitting $21.1 billion. The Financial Services Commission (FSC) of South Korea revealed that the countrys crypto market cap witnessed a 46% increase compared to the previous half-year term, local media outlets reported. The global crypto market has also experienced significant growth during the same period, with its market cap surging by 53% to reach $114 million (154 trillion won). Bitcoin (BTC), the leading cryptocurrency, saw its price rise by a robust 81%. South Korean crypto operators see 82% profit surge In addition to the sharp rise in market capitalization, South Korea‘s virtual marketplace operators disclosed a remarkable 82% boost in operating profits, amounting to $168 million in the year’s initial half. Furthermore, deposits within these cryptocurrency exchanges experienced an 11% increase, reaching approximately $3 billion. The FSCs study, encompassing 35 virtual asset operators in South Korea, including 26 cryptocurrency exchanges, highlighted several significant trends. Despite the general expansion of the cryptocurrency market, the average daily transaction value on the 26 exchanges saw a minor decline, registering a 1.3% decrease