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30% of Korean Population Now Own Crypto Assets, According to Central Bank Survey

A significant portion of the population in South Korea is reportedly investing in crypto. Citing new central bank data provided by the office of Democratic Party Rep. Lim Kwang-hyun, Yonhap News Agency reports the number of people who hold crypto in South Korean exchanges exceeded 15.59 million in November, up by 610,000 from 14.98 million in October. The figures, based on the number of investors who have accounts in the five leading domestic exchanges, including Upbit, Bithumb, Coin One, Cobit, and Gopax, represent more than 30% of the estimated 51.23 million people who live in the East Asian nation. The report says the number of crypto investors has been on the rise likely as a result of market optimism following the victory of US President-elect Donald Trump, who has promised to support the virtual asset industry. The number of domestic crypto investors rose by 14.74 million in July, 14.82 million in August, 4.88 million in September and 14.98 million in October, increasing by around 100,000 per month. Total crypto holdings also increased from 586 trillion won ($398.48 billion) in July to 102.6 trillion won ($69.768 billion) in November. The amount of average daily transactions likewise surged from 2.9 trillion won ($1.972 billion) in July to 14.9 trillion won ($10.132 billion) in November. Lim says the scale of crypto asset transactions is fast approaching a level comparable to the stock market. “At the level of all governments, preparations are needed to improve the stability of the virtual asset market and establish a sound market transaction that protects the rights and interests of users.” Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/eliahinsomnia/INelson The post 30% of Korean Population Now Own Crypto Assets, According to Central Bank Survey appeared first on The Daily Hodl .

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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Bitcoin’s Christmas Rally: Will It End In A Crash To $60,000?

Bitcoin’s price surged to nearly $100,000 on Christmas Day, fueling speculation of a potential rally to $110,000. However, renowned analysts are sounding the alarm, predicting a drastic correction to $60,000. #Bitcoin $BTC will CRASH to $60,000!!! At least, that`s what some of the most renowned analysts are saying. Let`s dive in — Ali (@ali_charts) December 26, 2024 Tone Vays believes that trading below $95,000 is a ominous sign, increasing the likelihood of a downturn to $73,000. Peter Brandt echoes this sentiment, warning of a potential breakdown below $70,000. Meanwhile, Fundstrat’s optimistic forecast of $250,000 by 2025 is tempered by Mark Newton’s prediction of a near-term drop to $60,000. Is Bitcoin Gearing For A Major Dip? On-chain analysis suggests that a correction to $70,000 is plausible, with a significant support zone breached at $97,300. Savvy investors appear to be bracing for impact, with over 33,000 bitcoins worth $3.23 billion flowing into exchanges in the past week. Profit-taking is also on the rise, with $7.17 billion in bitcoin profits realized on December 23 alone. Bitcoin has jumped to as high as $99.8K on a bullish Christmas crypto performance. Traders are now swinging bullish once again, with speculation of $110K getting rampant. Historically, we will see $110K Bitcoin only after the crowd doesn`t expect it, as this image shows. pic.twitter.com/j4w3VQ4Zio — Santiment (@santimentfeed) December 26, 2024 For the bullish outlook to prevail, bitcoin must reclaim its critical support zone and sustain a daily close above $100,000. If achieved, this could pave the way for a new leg up to $168,500. However, the bears are circling, and a failure to reclaim this level could spell disaster for the cryptocurrency. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: skorzewiak/ 123RF // Image Effects by Colorcinch The Daily Hodl

Investors Reignite Interest in Bitcoin and Ethereum ETFs

Spot Bitcoin ETFs saw net inflows of $475 million as of December 26. Fidelity’s Bitcoin ETF led with a net inflow of $254 million. Continue Reading: Investors Reignite Interest in Bitcoin and Ethereum ETFs The post Investors Reignite Interest in Bitcoin and Ethereum ETFs appeared first on COINTURK NEWS . The Daily Hodl