Report reveals a 3rd of South Koreans now personal crypto with this coin in focus

• Over 30% of South Koreans now spend money on crypto, with 15.59M holders in November.
• Crypto buying and selling quantity in South Korea now rivals inventory markets, with day by day trades hitting 14.9 trillion gained.
• iDEGEN, an AI-powered coin that has raised $8.7M in its ongoing presale, is capturing traders’ consideration.

In accordance with a current report, South Korea’s cryptocurrency market is booming, with over 30% of the inhabitants now investing in digital belongings. The variety of crypto holders lately surpassed 15 million, fueled by optimism following Donald Trump’s US presidential election victory.

Amid this surge, a brand new cryptocurrency, iDEGEN, has captured the eye of traders, because of its progressive pricing mannequin and AI integration. Right here’s a more in-depth take a look at the traits reshaping the market.

South Korea’s cryptocurrency increase: details and figures

In accordance with information from the Financial institution of Korea, over 15.59 million people in South Korea held crypto belongings by the tip of November 2024, marking a rise of 610,000 traders from the earlier month.

This rise coincided with a broader market surge, partly attributed to renewed optimism following the US election outcomes.

With a inhabitants of roughly 51.7 million, this implies greater than 30% of South Koreans at the moment are engaged within the crypto market.

This information was gathered beneath the Digital Asset Person Safety Act, which went into impact in July 2024. This act mandates that exchanges safeguard customers’ belongings, making certain transparency and fostering belief within the digital forex ecosystem.

Key metrics underline this explosive development. Amongst them, the entire crypto holdings surged to 102.6 trillion gained (round $78 billion) in November, a pointy rise from 58 trillion gained in October. Common holdings per individual additionally climbed to six.58 million gained, whereas deposits on exchanges practically doubled, reaching 8.8 trillion gained.

Buying and selling exercise has been equally spectacular, with day by day transaction volumes on the nation’s prime 5 exchanges—Upbit, Bithumb, Coinone, Korbit, and Gopax—hitting 14.9 trillion gained rivalling South Korea’s inventory markets.

The rise in Bitcoin (BTC) costs additionally performed a pivotal function on this increase. By November’s finish, Bitcoin’s worth had jumped from 105 million gained to 135.8 million gained, attracting new traders and boosting confidence available in the market’s potential.

Amid South Korea’s crypto affinity, this memecoin has been making waves

Whereas established cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) dominate headlines, a newcomer, iDEGEN (IDGN), has emerged as a compelling choice for traders looking for high-growth alternatives.

Launched in November 2024, this AI-powered meme coin has raised over $8.9 million in its ongoing presale and has bought over 1.1 billion IDGN tokens, producing important buzz inside the crypto neighborhood.

What units iDEGEN aside is its dynamic presale pricing mannequin, a function not often seen in conventional token launches.

The coin’s worth adjusts each 5 minutes based mostly on market exercise—rising by 5% with consecutive purchases and dropping by 5% in periods of inactivity. This mechanism not solely incentivizes engagement but additionally introduces a stage of unpredictability, making the coin significantly interesting to adventurous traders.

As well as, iDEGEN integrates synthetic intelligence (AI), which additional enhances its enchantment. The mission’s AI leverages neighborhood suggestions on X (previously Twitter) to refine its growth and utility. This adaptive method indicators that iDEGEN is extra than simply one other meme coin; it’s a mission with potential for long-term development and real-world software.

With the presale set to conclude on January 1, 2025, with an anticipated itemizing worth 10% greater than the ultimate presale worth, early adopters stand to achieve considerably.

As progressive initiatives like iDEGEN seize investor consideration, the way forward for South Korea’s crypto panorama appears more and more vibrant and promising.