The total assets held by South Korean domestic cryptocurrency exchanges have exceeded 1 quadrillion won for the first time

For the first time in history, the total assets held by South Korea's domestic virtual asset exchanges have exceeded 1 quadrillion Korean won. The office of Democratic Party lawmaker Kim Hyun-jung (phonetic) recently revealed that as of the end of November, the total assets held by South Korea's five major virtual asset exchanges, including virtual assets and user deposits, had reached 11.57267 trillion Korean won, a historic high. Compared to the level of 650 trillion Korean won at the end of October, it increased by about 500 trillion Korean won in just one month.

Analysts pointed out that this growth was due to a sharp rise in cryptocurrency prices and a surge in trading volume after Trump won the presidential election. However, experts warn that many of the currencies listed on South Korean exchanges are aimed at speculative demand and investment should be cautious.