South Korea crypto market weakens as large-holder accounts decline

South Korea's cryptocurrency market weakened in the first half of this year, with participation from large investors declining. As of June 30, the number of tradable user accounts reached 11.175 million, an increase of 49,000 or 0.4% from the end of last year. Accounts holding at least 10 million won accounted for 890,000, or 8% of the total, down two percentage points from last year. Accounts with at least 100 million won totaled 110,000, representing 1% of the total, down 0.5 percentage points. Additionally, 8.63 million accounts, or 77.2%, held less than 1 million won in assets. The total valuation of virtual assets in South Korea was 58.9 trillion won at the end of June, a 33% decrease from last year. Average daily trading volume in the first half was 3.1 trillion won, down 44% from the second half of last year. Won-denominated deposits fell 35% to 5.2 trillion won. Exchange revenue dropped 41% to 576.8 billion won, while operating profit plummeted 78% to 81.6 billion won.

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